In a letter to the Canada Revenue Agency’s registered plans directorate, the Association of Canadian Pension Management said a new draft bulletin only covers a concern attached to smaller pension plans and shouldn’t apply to larger, employer-sponsored plans. The ACPM said it recognizes the agency’s efforts in providing guidance on apportioning assets and actuarial liabilities in actuarial valuation reports for […]
Canadian defined benefit plan sponsors are holding an almost equal amount of fixed income and equity in their portfolios, according to the Pension Investment Association of Canada’s 2019 asset mix report. The report found the PIAC’s membership reported a total of more than $2.2 trillion under management last year, up from just under $2.1 trillion in 2018. As well, […]
Canadian defined benefit pension plans recovered some of their losses from the start of 2020 in the second quarter off the back of strong public equity gains, according to the Northern Trust Canada universe. With stimulus spending to tackle the economic impacts of the coronavirus pandemic taking effect in many countries, stock markets rebounded with double-digit […]
Quebec has published new draft regulations aimed at helping the administrators of supplemental pension plans to navigate the coronavirus pandemic. The proposed regulations would allow plan members to maintain their active membership in a supplemental plan even if they’re experiencing a temporary suspension in accruing benefits, as long as that suspension began in 2020 and doesn’t last longer than […]
When it comes to retirement benefits like the Canada Pension Plan and old-age security, the majority of Canadians don’t understand their options for deferral, according to a new survey by Employment and Social Development Canada. The survey, which polled 8,622 Canadians, found just 36 per cent are correctly aware of the deferral options for CPP […]
Several prominent players in Canada’s pensions and benefits industries have signed onto the BlackNorth Initiative, pledging to take specific actions within their organizations to tackle anti-Black racism. “The persistent inequities across our country underscore our urgent, national need to address and alleviate racial, ethnic and other tensions and to promote the elimination of anti-Black systemic […]
The University Pension Plan’s board of trustees has named Barbara Zvan as the inaugural president and chief executive officer of the UPP. Established on Jan. 1, 2020, the UPP is a new jointly sponsored pension plan designed to enhance the long-term sustainability of Ontario university pensions. The model means shared governance between employer and employee […]
When Canadian taxpayers are on the hook for public sector pension plan obligations, these institutions must spell that out clearly in their financial reporting, according to a new paper by the C.D. Howe Institute. “Reporting of pension costs as they accrue and net obligations at a point in time is tricky,” wrote William Robson, the organization’s chief […]
Brink’s Canada Ltd. is the latest employer to join the Colleges of Applied Arts and Technology pension plan’s DBplus offering. Represented by Unifor, 582 full- and part-time workers from Ontario and 175 from British Columbia officially became part of the plan on July 1, 2020. “We are delighted to welcome Brink’s and its employees from Ontario […]
The Halifax Port ILA/HEA pension plan has appointed Blair Richards as its chief investment officer. After more than 20 years as chief executive officer, he started the new role on July 1 and is under contract until Dec. 31, 2023. David Cranston, an internal hire, took over as CEO. Richards began working on the Halifax […]