Government of Canada Launches Consultations on Enhancing Retirement Security; Comments Due December 21

The Government of Canada launched consultations seeking feedback on enhancing retirement security for those who have workplace pension plans.

Options to address retirement security issues include pension, corporate governance and insolvency policies.

Other options include:

  • Measures to help ensure that employers maintain well-funded pension plans, such as incentives to eliminate pension deficits before there is the prospect of insolvency;
  • Restrictions on corporate behaviour, where appropriate, to better align corporate decision-making with pensioner and employee interests, such as restricting executive compensation and the payment of dividends in insolvency or near-insolvency situations; and
  • More transparency and fairness in insolvency proceedings by increasing the information available and opportunities to participate in the proceedings at critical stages.

Comments are due December 21, 2018.