Pension funding – 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 — […]

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Pension solvency measures helping plan sponsors through pandemic and beyond

bwolfe — Fri, 14 May 2021 12:56:59 +0000

While solvency funding relief helped Canada’s pension funds withstand the turbulence of 2020, a long-term vision with an eye to a more robust funding framework would offer better support, according to pensions experts. Responding to the crisis, the federal government launched a consultation last fall on measures to alleviate pension solvency funding requirements for defined […]

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Nova Scotia Teachers’ underperforms benchmark in 2020, facing independent review

mdunne — Tue, 04 May 2021 13:00:35 +0000

The Nova Scotia Teachers’ Pension Plan returned 6.78 per cent in 2020, increasing net assets to $5.519 billion, but falling short of the policy benchmark of 7.96 per cent. The plan did outperform the actuarial assumed rate of return of 5.70 per cent. “Like many pension plans across the country impacted by COVID-19, we saw […]

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HOOPP surpasses 400,000 plan members

mschmit — Tue, 09 Feb 2021 05:00:29 +0000

The Healthcare of Ontario Pension Plan recently surpassed 400,000 plan members, more than doubling since 2013 when it passed the 200,000 member mark. It added 12,000 new members following the merger of five plans with HOOPP in 2019. In all, membership grew by an additional 100,000 members since 2015 due, in part, to the growing […]

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PIAC calling on feds to reform pension solvency rules, introduce VPLAs

mschmit — Fri, 22 Jan 2021 05:00:25 +0000

The Pension Investment Association of Canada is calling on the federal government to reform pension solvency rules while supporting legislation to introduce solvency reserve accounts and variable-payment life annuities. In response to a federal consultation paper, the PIAC said while it supports temporary relief measures amid the current economic climate, it cautioned against an approval […]

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ACPM calling on feds to prioritize DB plan coverage and adequacy

mschmit — Mon, 18 Jan 2021 11:00:42 +0000

With private-sector defined benefit pension coverage declining over the past two decades, the federal government should take more steps to prioritize coverage and benefit adequacy, according to a new consultation paper from the Association of Canadian Pension Management. The paper said solvency funding relief should be a key priority, with options based on factors including […]

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Canadian DB pension plans entering 2021 in good financial shape

mschmit — Wed, 06 Jan 2021 11:00:42 +0000

The aggregate funded ratio for Canadian pension plans in the S&P/TSX composite index increased from 90.8 per cent to 91.2 per cent during the past 12 months, according to Aon’s pension risk tracker. Aon found the funded status deficit decreased by $200 million, which was driven by asset increases of $18.7 billion and offset by […]

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PIAC responds to consultation on pension benefit security, windup valuations

mschmit — Fri, 04 Dec 2020 04:45:48 +0000

The Pension Investment Association of Canada is commenting on a consultation from the Canadian Institute of Actuaries’ actuarial standards board, providing feedback on benefit security, stress testing and windup valuations. In a letter, the PIAC said the meaning and mandated disclosures of benefit security are public policy issues for lawmakers and regulators. “While the views of the [actuarial standards […]

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CAPSA seeking feedback on revised pension plan funding policy guideline

mschmit — Mon, 30 Nov 2020 05:00:15 +0000

The Canadian Association of Pension Supervisory Authorities is releasing a consultation draft of revisions to its pension plan funding policy guideline. The guideline provides direction on the development and adoption of funding policies for defined benefit and target-benefit pension plans, including best practices for plan administrators and sponsors. Read: CAPSA updates guidelines on DC plan payout, […]

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Nav Canada, Goodyear share experiences with LDI in low interest rate world

mschmit — Fri, 20 Nov 2020 05:05:40 +0000

Despite the low interest rate environment, it still makes sense for defined benefit pension plan sponsors to adopt a liability-driven investment strategy, said Serge Lapierre, global head of LDI at Manulife Investment Management, during a webinar it sponsored on Monday. LDI investing is a risk management framework, he noted. “It’s not an asset class or a […]

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