Gavin Benjamin – Benefits Canada.com

Expert panel: How DB pension plan sponsors can use surplus – test

Cassie Pastorfide — Tue, 16 May 2023 13:00:55 +0000

In 2022, the typical defined benefit pension plan achieved an investment return of roughly negative 12 per cent. However, due to dramatic increases in bond yields and a subsequent decrease in pension liabilities, many pension plans ended 2022 with the same — or better — solvency funded level that they had at the beginning of […]

The post Expert panel: How DB pension plan sponsors can use surplus – test appeared first on Benefits Canada.com.

Expert panel: How could inflation impact DB pension plans?

mdunne — Tue, 26 Oct 2021 13:00:17 +0000

After being off of Canadians’ radar screens for years, the re-emergence of inflation in recent months is receiving significant attention for many, including pension plan professionals. Some believe the inflationary increases will be transitory because recent price increases are primarily due to short-term disruptions in the Canadian economy caused by the emergence from restrictions due […]

The post Expert panel: How could inflation impact DB pension plans? appeared first on Benefits Canada.com.

Could pandemic-related mortality rates impact DB pension plans?

mdunne — Tue, 08 Jun 2021 13:00:48 +0000

Over the past several months, much attention has been paid to the coronavirus pandemic’s impact on financial markets and, subsequently, defined benefit pension plans’ financial conditions — but what about the potential financial implications arising from the virus’ effect on mortality rates? The mortality assumption When performing a pension plan’s actuarial valuation, the actuary uses a […]

The post Could pandemic-related mortality rates impact DB pension plans? appeared first on Benefits Canada.com.

What do pension benefits guarantee fund changes mean for plan sponsors?

mschmit — Tue, 26 Mar 2019 04:30:34 +0000

Alongside recent reforms to funding rules for Ontario-registered defined benefit pension plans, the Ontario government also made changes to the pension benefits guarantee fund, including improvements to benefits payable by the PBGF and changes to its annual assessment paid by employers. Employers should budget for the change in their assessments, effectively beginning with assessments due in 2019. […]

The post What do pension benefits guarantee fund changes mean for plan sponsors? appeared first on Benefits Canada.com.

A primer on the incoming CPP/QPP enhancements

mschmit — Tue, 27 Nov 2018 04:00:36 +0000

In 2016, the Government of Canada reached an agreement with the provinces that provides for significant enhancements to the Canada Pension Plan, with an announcement of similar changes to the Quebec Pension Plan following in 2017. When the changes were announced, employers took note of the pending increases in the target benefit and contribution rates under the […]

The post A primer on the incoming CPP/QPP enhancements appeared first on Benefits Canada.com.

Are tontines a solution to Canada’s decumulation challenges?

mschmit — Mon, 21 May 2018 07:38:55 +0000

With the aging of Canada’s population, the move to defined contribution pension plans in the private sector and increases in life expectancy, the issue of decumulation is growing in importance. Decumulation deals with converting retirees’ savings into periodic income that must last for the rest of their lifetime. That can be a challenge for Canadians who […]

The post Are tontines a solution to Canada’s decumulation challenges? appeared first on Benefits Canada.com.

Four pension and retirement trends to watch in 2018

mschmit — Fri, 29 Dec 2017 03:30:06 +0000

As 2017 draws to a close, we turn our attention to the new year. As usual, there’s a lot happening in the Canadian pension environment. Below are four pension trends to watch for in 2018. 1. Canada Pension Plan/Quebec Pension Plan reform The Canada Pension Plan enhancements will be phased in from Jan. 1, 2019, and the Quebec […]

The post Four pension and retirement trends to watch in 2018 appeared first on Benefits Canada.com.

The pros and cons of offering pension portability at retirement

mschmit — Tue, 29 Aug 2017 05:00:36 +0000

Legislation requires a defined benefit pension plan to provide members leaving active service with the option of transferring out the lump-sum commuted value of their accrued account, instead of receiving a monthly lifetime pension at retirement. However, this portability option isn’t a requirement if members are eligible for retirement at the time they leave employment. […]

The post The pros and cons of offering pension portability at retirement appeared first on Benefits Canada.com.

The 5 key components of a DB pension funding regime

mschmit — Fri, 24 Feb 2017 05:00:56 +0000

The interest in pension funding rules is as great as ever, with changes taking effect in Quebec in 2016 and a review of funding rules in Ontario currently underway. For plan sponsors, members and other interested parties that would like to have a better understanding of how defined benefit pension funding rules work, it’s useful […]

The post The 5 key components of a DB pension funding regime appeared first on Benefits Canada.com.

A refresher on the purposes of pension plan funding

mschmit — Thu, 20 Oct 2016 05:30:01 +0000

We may be witnessing the most significant changes to the funding rules of Canadian defined benefit pension plans in more than 25 years. First, since Quebec’s Bill 57 came into effect at the beginning of 2016, minimum funding requirements for private sector plans registered in the province are now based on an enhanced going-concern valuation. […]

The post A refresher on the purposes of pension plan funding appeared first on Benefits Canada.com.