fiduciary duty – Benefits Canada.com

U.S. proposing ESG investing rules for plan sponsor fiduciaries

Gideon Scanlon — Tue, 19 Oct 2021 15:00:22 +0000

The U.S. Department of Labor is proposing new rules that would give pension plan fiduciaries the ability to make investment decisions based on environmental, social and governance factors. If adopted, the rules would amend the Employee Retirement Income Security Act of 1974. In its summary of the proposed changes, the Department of Labor said they’d […]

The post U.S. proposing ESG investing rules for plan sponsor fiduciaries appeared first on Benefits Canada.com.

ESG integration hampered by pension plan sponsors, uncertainty around fiduciary duties: research paper

Gideon Scanlon — Thu, 02 Sep 2021 13:00:43 +0000

Board and executive-level efforts to integrate environmental, social and governance issues into pension plans’ investment strategies are frequently thwarted by unclear guidance from plan sponsors and uncertainty about fiduciary duties, according to a new working paper by the University of Pennsylvania. The paper concluded that efforts to implement ESG criteria in investment decision-making are frequently hamstrung […]

The post ESG integration hampered by pension plan sponsors, uncertainty around fiduciary duties: research paper appeared first on Benefits Canada.com.

FSRA issuing guidance on pension plan administrator responsibilities

bwolfe — Fri, 30 Jul 2021 13:00:38 +0000

The Financial Services Regulatory Authority of Ontario is releasing final interpretation guidance to support the role and responsibilities of pension plan administrators. The guidance, an updated and consolidated version of four previous documents, said the administrator’s role includes responsibility for implementing processes to ensure pension plan risks — such as investment, funding, operational and legal — […]

The post FSRA issuing guidance on pension plan administrator responsibilities appeared first on Benefits Canada.com.

Pension sponsors have fiduciary responsibility to consider climate change: webinar

bwolfe — Fri, 28 May 2021 13:10:20 +0000

Canada’s pension plan sponsors have a fiduciary responsibility to consider climate change in their financial decisions, according to Randy Bauslaugh, counsel for pensions and benefits and executive compensation at McCarthy Tétrault LLP, during a webinar hosted by the Canada Climate Law Initiative and the Canadian Pension & Benefits Institute. “The failure of plan administrators and […]

The post Pension sponsors have fiduciary responsibility to consider climate change: webinar appeared first on Benefits Canada.com.

Calls for Canadian companies to adopt transparent, consistent climate-risk reporting

mschmit — Fri, 05 Feb 2021 05:54:03 +0000

Institutional investors, regulators and financial standard organizations are calling on Canadian corporations to adopt transparent climate-risk reporting, according to a new report from the C.D. Howe Institute. The report noted corporate directors have the legal and fiduciary duty to act in the best interests of their companies in developing strategies to address climate-related financial risks […]

The post Calls for Canadian companies to adopt transparent, consistent climate-risk reporting appeared first on Benefits Canada.com.

FSRA issues final guidance on missing pension plan members

mschmit — Wed, 16 Dec 2020 05:00:28 +0000

Ontario’s pension plan administrators and plan members share the responsibility of maintaining current contact information, according to the Financial Services Regulatory Authority of Ontario’s final guidance on missing plan members. It recommended administrators maintain a records management system and retention schedules that support long-term administration of the pension plan and to exercise care and diligence […]

The post FSRA issues final guidance on missing pension plan members appeared first on Benefits Canada.com.

PIAC comments on FSRA’s plan for missing plan members

mschmit — Wed, 23 Sep 2020 05:30:00 +0000

The Pension Investment Association of Canada is expressing its support for the Financial Services Regulatory Authority of Ontario’s draft guidelines for pension plan sponsors dealing with missing members. In a letter, the PIAC said the draft guidelines would be helpful on a go-forward basis, but also noted plan administrators need more options regarding current missing […]

The post PIAC comments on FSRA’s plan for missing plan members appeared first on Benefits Canada.com.

Legal analysis suggests CPPIB not doing enough to transition to lower-carbon assets

mschmit — Fri, 18 Sep 2020 05:20:45 +0000

The Canada Climate Law Initiative is calling into question whether the Canada Pension Plan Investment Board is sufficiently aligning its investments with the transition to a low-carbon economy. In a legal analysis, the organization said the pension fund’s current allocations to high-carbon assets reveal a “troubling incrementalism” within its efforts to mitigate Canadians’ exposure to […]

The post Legal analysis suggests CPPIB not doing enough to transition to lower-carbon assets appeared first on Benefits Canada.com.

U.S. push to further regulate ESG products in CAPs could hurt members

mschmit — Fri, 28 Aug 2020 05:00:10 +0000

The U.S. Department of Labor is taking jabs at the inclusion of environmental, social and governance products in capital accumulation plans — and it could be to members’ detriment. In late June, the Department of Labor proposed new rules around ESG products in retirement accounts. “The proposal is designed, in part, to make clear that . […]

The post U.S. push to further regulate ESG products in CAPs could hurt members appeared first on Benefits Canada.com.

A look at the different paths to ESG integration in DC plans

mschmit — Fri, 08 May 2020 04:56:55 +0000

With environmental, social and governance issues becoming more prominent among investors, it’s important to consider what sustainability means for DC plans. Plan sponsors are facing somewhat conflicting objectives, said Christine Girvan, senior managing director and head of Canadian distribution at MFS Investment Management, during a session at Benefits Canada‘s 2020 DC Plan Summit in Montreal […]

The post A look at the different paths to ESG integration in DC plans appeared first on Benefits Canada.com.