PIAC – Benefits Canada.com

CAPSA developing multi-jurisdictional VPLA framework for DC pension plans

bwolfe — Wed, 04 Aug 2021 13:00:25 +0000

The Canadian Association of Pension Supervisory Authorities is developing a framework for defined contribution pension plans to offer variable payment life annuities. In developing the framework, the CAPSA said it will address topics such as plan design and conversion options, as well as member disclosure, spousal consent, plan termination, investment rules and regulatory oversight for […]

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DB pension interest in fixed income grew in 2020, finds PIAC asset mix report

Gideon Scanlon — Thu, 15 Jul 2021 13:00:37 +0000

Members of the Pension Investment Association of Canada saw their managed assets grow by 7.4 per cent in 2020, according to a new report. In its defined benefit asset mix report covering 2020, the PIAC found its members’ DB pensions grew by 7.4 per cent, from $2.286 trillion to $2.454 trillion, over the course of […]

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PIAC urging SEC to adopt broader ESG reporting rules

Gideon Scanlon — Tue, 22 Jun 2021 13:00:45 +0000

The Pension Investment Association of Canada is urging the U.S. Securities and Exchange Commission to adopt new rules mandating enhanced disclosures of climate risks and other environmental, social and governance factors. In a letter submitted by Natasha Trainor, PIAC’s chair, the association said it supports regulatory proposals that would require businesses to disclose more information on […]

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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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PIAC disputes recommendation for further regulation of proxy advisory firms

mschmit — Wed, 16 Sep 2020 03:46:00 +0000

The Pension Investment Association of Canada took issue with some of the recommendations drafted by Ontario’s capital markets modernization task force, specifically those related to proxy advisory firms. The task force published a series of proposals for consultation earlier this year, inviting feedback from the public. In a recent response letter to Walied Soliman, the […]

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PIAC to SEC: No clear benefits to increased proxy advisory firm regulations

mschmit — Wed, 24 Apr 2019 05:53:51 +0000

The Pension Investment Association of Canada has written the United States Securities and Exchange Commission, noting there shouldn’t be increased regulations on proxy advisory firms as this could cost pension plans without having clear benefits. This comes in response to a roundtable the SEC held on the topic in November 2018. Topics on the agenda […]

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PIAC supports FSRA’s proposed approach for addressing changing pension environment

mschmit — Thu, 11 Apr 2019 07:18:42 +0000

The Pension Investment Association of Canada has released comments on the proposed strategic priorities for the newly formed Financial Services Regulatory Authority of Ontario, which will officially launch this spring. “In our first year, our focus is on burden reduction and regulatory effectiveness,” the FSRA said in a consultation paper on proposed priorities for 2019-20. […]

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PIAC comments on CAPSA draft 2019-2022 strategic plan

mschmit — Wed, 27 Mar 2019 04:27:23 +0000

Although the Canadian Association of Pension Supervisory Authorities’ has yet to release its draft 2019-2022 strategic plan publicly, the Pension Investment Association of Canada has released comments on the draft. Specifically, the PIAC highlighted its support for finalizing an agreement respecting multi-jurisdictional pension plans as an appropriate top priority for the CAPSA. It also encouraged […]

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PIAC suggests changes to IOPS draft guidelines on ESG for pension investors

mschmit — Thu, 21 Mar 2019 03:50:22 +0000

In response to the International Organization of Pension Supervisors’ request for comments on developing guidance for pension funds around environmental, social and governance issues, the Pension Investment Association of Canada is suggesting some changes and calling for the removal of one of the draft guidelines. The PIAC noted the potential financial impact caused by ESG factors makes it […]

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Canada lagging behind on ‘say on pay’

mschmit — Wed, 27 Feb 2019 04:28:21 +0000

While more shareholders have been putting their foot down on excessive chief executive officer pay, not enough progress has been made, according to a new report by U.S.-based non-profit foundation As You Sow. “Opposition to high CEO pay has risen, and more companies have seen their CEO pay packages receive less and less support from […]

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