JSPP – Benefits Canada.com

University Pension Plan tackling ESG issues by joining 30% Club, CCGG and SHARE

mdunne — Fri, 16 Jul 2021 19:00:40 +0000

The newly minted University Pension Plan is tackling environmental, social and governance issues head on by partnering with the 30% Club, Canadian Coalition for Good Governance and Shareholder Association for Research and Education. Read: University Pension Plan launches multi-employer DB pension plan Joining the 30% Club will help the UPP make greater representation of women on […]

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University Pension Plan launches multi-employer DB pension plan

lbailey — Fri, 02 Jul 2021 13:00:51 +0000

The University Pension Plan is launching its jointly sponsored pension plan, providing management services to the Queen’s University, the University of Guelph and the University of Toronto. The plan, which was established on Jan. 1, 2020, officially launched on July 1, 2021. The UPP is a new jointly sponsored pension plan designed to enhance the long-term sustainability […]

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2020 Top 100 Pension Funds Report: How have Canada’s DB pensions changed over the last decade?

mschmit — Fri, 14 Aug 2020 04:56:30 +0000

Whether it’s battling the challenges of plan maturity, increasing longevity, the changing nature of work or difficult financial markets, these so-called golden handcuffs are looking pretty dented in some cases. But the 10 years following the great financial crisis wasn’t all bad. Many public pension plans, as well as affiliated administrators and investment managers, have […]

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CRA pension bulletin shouldn’t apply to MEPPs, JSPPs, says ACPM

mschmit — Tue, 28 Jul 2020 05:15:55 +0000

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 […]

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OPSEU members latest to join OPTrust Select

mschmit — Wed, 17 Jun 2020 11:15:33 +0000

Workplaces represented by the Ontario Public Service Employees Union are among the latest employers to join the OPSEU Pension Trust’s defined benefit plan, OPTrust Select. “This isn’t just a victory for the new members of OPTrust Select, it’s a victory for nearly a million workers across Ontario who don’t yet have the security of a […]

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Tips for moving from a single-employer to a jointly sponsored pension plan

mschmit — Fri, 15 May 2020 04:57:53 +0000

The United Way Greater Toronto introduced a defined benefit pension plan in 1965 and moved to a hybrid plan in 1990. While the DB side was fully paid by the employer, the defined contribution component allowed employees to contribute up to four per cent of their annual salary with a 50 per cent employer match. […]

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Regulatory reform required to address today’s workplace pension landscape: report

mschmit — Thu, 14 May 2020 06:30:03 +0000

Canadian pension rules and regulations are in need of reform in order to properly address the reality of the 21st century workplace pension landscape, according to a new report by the C.D. Howe Institute. The report, authored by Bob Baldwin, a pension industry veteran and chair of the C.D. Howe’s pension policy council, argued that the […]

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An update on MEPPS, JSPPs and PRPPs

mschmit — Fri, 14 Feb 2020 04:54:12 +0000

Squeezed by onerous funding requirements and overarching fiduciary duties, defined benefit plan sponsors are increasingly willing to embrace alternative structures — such as multi-employer pension plans, jointly sponsored pension plans and pooled registered pension plans — to relieve some of the pressure. “Most employers simply shouldn’t be in the business of running a pension plan, […]

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A look at the WSIB Employees’ Pension Plan’s conversion to a JSPP model

mschmit — Tue, 11 Feb 2020 05:30:01 +0000

Ontario’s Workplace Safety and Insurance Board is converting its defined benefit pension plan to a jointly sponsored model, making it the first single-employer plan in Canada to make the change. The Financial Services Regulatory Authority of Ontario approved the move on Dec. 5, 2019, and the conversion is expected to take place on July 1, 2020. […]

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Governance was key to turnaround at Newfoundland and Labrador Teachers’ Pension Plan

mschmit — Wed, 23 Oct 2019 04:33:08 +0000

Like many plans, the Newfoundland and Labrador Teachers’ Pension Plan came out of 2008 in rough shape. So, the government started to discuss what should be done to deal with the plan’s unfunded liability. In 2015, the agreement was made to turn the plan into a jointly sponsored pension plan, and the Teachers’ Pension Plan […]

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