defined benefit pension – Benefits Canada.com

Expert panel: How plan sponsors can help make retirement, pensions more equitable

mdunne — Tue, 13 Jul 2021 13:00:57 +0000

Diversity, equity and inclusion is top of mind for many plan sponsors these days. And, while issues around retirement and pensions likely aren’t the key focus for employers looking to tackle DEI issues, they should be. This March, the Organisation for Economic Co-operation and Development released a study that found the pension gender gap, or the difference […]

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Nova Scotia’s PSSP sees 15.75% return: annual report

Gideon Scanlon — Wed, 30 Jun 2021 19:00:10 +0000

Nova Scotia’s Public Service Superannuation Plan saw a 15.75 per cent return net of investment fees for the fiscal year 2020/21, generating $1 billion in total investment income. The plan’s funded status increased to 97.9 per cent at March 31, 2021, from 91.4 per cent the previous year. Its total net assets were about $7.2 […]

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Transfer of assets to N.B.’s unclaimed property program could reduce burden on pension plans

Jennifer Paterson — Wed, 23 Jun 2021 19:00:16 +0000

The Association for Canadian Pension Management is urging New Brunswick’s Financial and Consumer Services Commission to ensure unclaimed entitlements from ongoing pension plans are eligible for transfer to the province’s unclaimed property fund at the option of the plan administrator. Under a proposed revision to New Brunswick’s unclaimed property program, organizations and government entities holding […]

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Sears Canada retirees’ group says bankruptcy laws unjust for pensioners

mdunne — Thu, 10 Jun 2021 13:30:26 +0000

Canada’s bankruptcy laws should be changed to avoid future financial hardship for members of other underfunded pension plans, said a court-appointed representative for Sears Canada retirees. Kenneth Eady, a former Sears Canada management employee who now represents 17,000 other pensioners, told MPs on Tuesday that he doesn’t believe it’s fair that Canada’s two bankruptcy laws give banks more protection […]

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Feds extending pension plan relief by one year to help employers, employees through pandemic

Jennifer Paterson — Fri, 21 May 2021 19:30:32 +0000

The federal government is extending its relief to registered pension plans and deferred salary leave plans by one year to help employers manage and maintain benefits for their employees through the coronavirus pandemic. The draft regulations, initially released on July 2, 2020, are aimed at ensure pension plan sponsors and their beneficiaries have the flexibility they […]

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First quarter performance flat for Canada’s DB pension plans: report

mdunne — Tue, 04 May 2021 13:30:01 +0000

Canada’s defined benefit pension plans experienced flat performance in the first quarter of 2021, with the median plan’s returns declining by 0.2 per cent in the first three months of 2021 after rising 10 per cent through 2020, according to Northern Trust Canada’s pension universe. Read: Canada’s DB pension plans post 5% return in Q4, […]

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Ontario’s budget highlights pension benefits, ongoing support for employers and employees

bwolfe — Thu, 25 Mar 2021 05:00:54 +0000

In its 2021 budget on Wednesday, the Ontario government said it’s requiring pension plan administrators to calculate and report their plan’s claim exposure to the pension benefits guarantee fund, to support the protection of benefits into the future. A review of the fund, discussed in the province’s 2020 budget, found there was a need for […]

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FSRA seeking input on draft guidance for DB pension asset transfers

mschmit — Tue, 15 Sep 2020 05:40:26 +0000

The Financial Services Regulatory Authority is seeking stakeholder input on draft guidance on providing consent for asset transfer transactions under the Pension Benefits Act. Aiming to support predictability and transparency for defined benefit plan administrators, sponsors and members and to protect of the rights of members, the guidance sets out how the FSRA will exercise […]

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Impending Changes to Ontario Pension Benefits Act

mschmit — Tue, 06 Mar 2018 04:19:40 +0000

2018 to be a significant year for pension reform in Ontario.

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