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.
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Accounting standards for public multi-employer pension plans require updating: report, Benefits Canada, July 16, 2020
- Brink’s workers join CAAT’s DBplus, Benefits Canada, July 15, 2020
- Alberta panel recommending province withdraws from CPP, creates Alberta Pension Plan, Benefits Canada, June 19, 2020
- DB regulations a bad fit for target-benefit plans, MEPPs: report, Benefits Canada, June 11, 2020
- Feds and eight provinces sign new MJPP agreement, Benefits Canada, June 4, 2020
- FSRA issues new guidance for pension plans transferring commuted values, purchasing annuities, Benefits Canada, May 25, 2020
- Tips for plan sponsors moving from a single-employer to a jointly sponsored pension, Benefits Canada, May 15, 2020
- Regulatory reform required to address today’s workplace pension landscape: report, Benefits Canada, May 14, 2020
- Two more employers joining CAAT’s DBplus, Benefits Canada, May 12, 2020
- How can employers help bridge the gender pension gap? Benefits Canada, April 17, 2020
- Nova Scotia introduces regulations amending funding under Pension Benefits Act, Eckler, March 27, 2020
- FSRA responds to questions on filing deadlines, pension transactions, Benefits Canada, March 23, 2020
- How are Canadian pension plans responding to coronavirus? Benefits Canada, March 17, 2020
- Canadian DB plan solvency drops off coronavirus scare: reports, Benefits Canada, March 6, 2020
- What lies ahead for pension funds in 2020? Benefits Canada, February 14, 2020
- Quebec won’t create emergency fund for corporate pensions, Benefits Canada, February 14, 2020
- An update on MEPPS, JSPPs and PRPPs, Benefits Canada, February 14, 2020
- CPP enhancements good start, but more needed to ensure retirement readiness: report, Benefits Canada, February 12, 2020
- What could proposed changes to SEC rules mean for Canadian pensions? Benefits Canada, February 5, 2020
- Changes coming for pension plan commuted-value standards, Benefits Canada, February 3, 2020
- Variable benefits in DC pension plans now allowed in Ontario, January 28, 2020
- Ontario raises threshold for pension plans requiring audited financial statements, Benefits Canada, January 22, 2020
- Ontario permits variable benefits in DC pension plans, Morneau Shepell, January 17, 2020
- British Columbia's pension funding reform, Eckler, January 17, 2020
- Pension Law 2020: A Clear Look at the Latest Pension Law Reforms, Hicks Morley, January 21, 2020
- Proposed Alberta Pension Plan has underwriting, political risks: report, January 13, 2020
- Ontario Bill 132 amends electronic communication rules, January 6, 2020
- B.C.’s DB pension solvency changes to take effect Dec. 31, Benefits Canada, December 23, 2019
- What pension legislation is expected in 2020? Benefits Canada, December 20, 2019
- Lower interest rates inflating federal pension costs: Morneau, Benefits Canada, December 17, 2019
- Changes to pension plan funding rules: Quebec releases its final regulation, Eckler, December 17, 2019
- Proposed Manitoba pension rule changes would permit creation of solvency reserve accounts, Benefits Canada, December 9, 2019
- The Alberta Pension Plan is no slam dunk: memo, Benefits Canada, December 4, 2019
- Alberta launches panel to examine involvement in CPP, national pharmacare, Benefits Canada, November 12, 2019
- Quebec to introduce bill allowing target-benefit pension plans, Benefits Canada, November 11, 2019
- Ontario pension bill includes changes to e-communications, missing members, Benefits Canada, November 6, 2019
- Maximum pensionable earnings under CPP to rise in 2020, Benefits Canada, November 4, 2019
- FSRA prioritizing pension plan flexibility in consultation, Benefits Canada, October 28, 2019
- Liberals’ election win implications for pharmacare, pension legislation, Benefits Canada, October 22, 2019
- Canadian DB plans increasingly focused on long-term goals, monitoring pension risk, Benefits Canada, October 18, 2019
- FSRA forming pension advisory committees, Investment Executive, October 11, 2019
- Pension plan sponsor appetite strong for new innovative design options, Benefits Canada, October 7, 2019
- FSRA Announces “One-Time Opportunity” for Outstanding Pension Plan Filings, Blakes, September 26, 2019
- New report explores policy implications for new ‘contingent’ pension plans, Benefits Canada, September 26, 2019
- British Columbia pension funding reform proposals, Morneau Shepell, September 25, 2019
- Feds to amend insolvency legislation to protect pensions, Benefits Canada, September 5, 2019
- A look at the landscape for pension solvency funding reform across Canada, Benefits Canada, August 21, 2019