The latest news articles and legislative updates on retirement reform
Pension plans are a priority on society’s fix-it list.
Plan sponsors in Canada are finding it increasingly difficult to fund defined benefit (DB) pension plans, which rely on employer contributions to provide promised benefits to participants. As the population ages and investment performance slips, additional contributions are needed to adequately fund DB plans, but economic volatility makes finding the extra cash problematic.
As DB plans struggle, attention has shifted to capital accumulation plans. Both sponsors and participants contribute money to capital accumulation plans, which is often then left to the mercy of the markets. Some wonder whether capital accumulation plans will provide adequate retirement income—will participants have enough money to last the rest of their lives?
Federal, provincial and local governments are legislating temporary and permanent funding/solvency relief for DB plans. Governments and industry experts are also analyzing the possibilities of retirement income security for their aging populations. Are lifetime income distribution options plausible? Should retirement saving be mandatory? Are participants receiving the information and education they need to plan for retirement and make wise investment decisions? These are just some of the issues to watch in the continuing debate.
- DB Pensions best option for Canadian employers, economy: report, Benefits Canada, February 12, 2019
- Canadian pensions end 2018 with solvency decline, Benefits Canada, January 4, 2019
- CPP contributions rise this week, Investment Executive, January 2, 2019
- A look ahead at pension legislative changes for 2019, Benefits Canada, December 28, 2018
- CAPSA issues draft revised electronic communications guideline for pension plans, Morneau Shepell, December 13, 2018
- Quebec amends the funding rules for defined benefit multi-jurisdictional pension plans, Willis Towers Watson, December 12, 2018
- A look at Alberta's incoming joint pension governance structure, Benefits Canada, December 3, 2018
- A primer on the incoming CPP/QPP enhancements, Benefits Canada, November 27, 2018
- Considerations for employers around the incoming CPP enhancements, Benefits Canada, November 23, 2018
- Ontario to move forward with variable benefits from DC pensions, Benefits Canada, November 16, 2018
- Ontario funding reform update: Ontario requires amendments to Statements of Investment Policies and Procedures and plan texts, Morneau Shepell, November 15, 2018
- BC issues consultation paper on solvency funding reform, Morneau Shepell, November 14, 2018
- Global pension systems struggling to balance adequacy, sustainability: report, Benefits Canada, October 22, 2018
- FSCO opens consultation on updated pension surplus policies, Benefits Canada, October 17, 2018
- FSCO publishes chart with five scenarios under new DB pension funding regime, Benefits Canada, August 30, 2018
- Majority of Ontario small employers want CPP hike scrapped, delayed: survey, Benefits Canada, July 25, 2018
- Tips for meeting CAPSA's pension governance guidelines: Part II, Benefits Canada, July 24, 2018
- CPP enhancements to increase total benefits by 44% by 2070: study, Benefits Canada, June 21, 2018
- Ontario rolls out several parts of new DB framework, Benefits Canada, May 1, 2018
- Major reform of Ontario pension funding rules now final, Willis Towers Watson, April 27, 2018
- Pension Funding Reform Continues: Taking Aim at Target Benefit Multi-Employer Pension Plans, Hicks Morley, April 18, 2018
- Just 17% of employers starting plans for CPP, QPP changes, Benefits Canada, April 18, 2018
- Alberta Announces Temporary Solvency Funding Relief for Defined Benefit Pension Plans, Blakes Business Class, April 10, 2018
- Ontario proposes rules for target benefits in multi-employer plans, Benefits Canada, April 9, 2018
- Tips for meeting CAPSA's pension governance guidelines, Benefits Canada, April 9, 2018
- Quebec Passes Legislation to Mirror CPP Enhancements and Makes Changes to its Pension Legislation, Hicks Morley, March 23, 2018
- DB pension solvency drops from 15-year high in February: survey, Benefits Canada, March 8, 2018
- Target benefit plans continue to gain traction, Osler, February 13, 2018