Pension Legislative Update (Canada)
The latest news articles and legislative updates for retirement plans.
Pension plans are a priority on society’s fix-it list.
Plan sponsors in Canada are finding it increasingly difficult to fund defined benefit (DB) pension plans, which rely on employer contributions to provide promised benefits to participants. As the population ages and investment performance slips, additional contributions are needed to adequately fund DB plans, but economic volatility makes finding the extra cash problematic.
As DB plans struggle, attention has shifted to capital accumulation plans. Both sponsors and participants contribute money to capital accumulation plans, which is often then left to the mercy of the markets. Some wonder whether capital accumulation plans will provide adequate retirement income—will participants have enough money to last the rest of their lives?
Federal, provincial and local governments are legislating temporary and permanent funding/solvency relief for DB plans. Governments and industry experts are also analyzing the possibilities of retirement income security for their aging populations. Are lifetime income distribution options plausible? Should retirement saving be mandatory? Are participants receiving the information and education they need to plan for retirement and make wise investment decisions? These are just some of the issues to watch in the continuing debate.
- Gov’t seeking feedback on solvency reserve accounts for federally regulated DB pension plans, Benefits Canada, September 26, 2024
- How are Canadian DB pension plan sponsors making use of surplus funds amid positive funded status environment? Benefits Canada, September 26, 2024
- How CAPSA’s updated CAP guideline will impact plan sponsors, members, Benefits Canada, September 24, 2024
- Ontario DB pension plans’ average solvency ratio increases to 123% in Q2 2024: FSRA, Benefits Canada, September 17, 2024
- CAPSA releases guidelines on Capital Accumulation Plans and Pension Plan Risk Management, Stewart McKelvey, September 11, 2024
- Pension regulators unveil new guidance, Investment Executive, September 10, 2024
- Alberta officials advised against releasing CPP exit survey results: report, Benefits Canada, August 14, 2024
- What should employers know about Quebec’s pension legislation? Benefits Canada, August 2, 2024
- Ontario proposes new pension solvency test, Investment Executive, July 18, 2024
- Overall financial health of Canadian DB pension plans remains strong, Mercer, July 2, 2024
- FSRA releases final guidance on roles, responsibilities of pension plan administrators, Benefits Canada, June 24, 2024
- Ontario DB pension plans’ average solvency ratio increases to 122% in Q1 2024: FSRA, Benefits Canada, June 17, 2024
- FSRA outlines final guidance on retroactive adverse amendments, Benefits Canada, June 5, 2024
- Expert panel: How transition investments can help institutional investors reach net zero, Benefits Canada, June 4, 2024
- CAP member outcomes increasing in Q1 2024: report, Benefits Canada, May 16, 2024
- MP proposes stricter conditions for provinces leaving CPP, Benefits and Pensions Monitor, May 14, 2024
- Average Canadian DB pension plan returns 3.6% in Q1 2024: reports, Benefits Canada, May 6, 2024
- Average funded ratio of Canadian DB pension plans up 7% in Q1 2024: report, Benefits Canada, April 23, 2024
- Feds seeking to boost domestic investments by Canadian institutional investors: budget, Benefits Canada, April 17, 2024
- 2024 Federal Budget, WTW, April 17, 2024
- FSRA focusing on target-benefit framework for MEPPs, sustainability of PBGF in 2024-25 annual plan, Benefits Canada, April 17, 2024
- Ontario Introduces Amendments to Support a Permanent Framework for Target Benefit Pension Plans, Bennett Jones, April 15, 2024
- Canadian pension funds seeking diversification in real estate at home, abroad: experts, Benefits Canada, April 9, 2024
- Canadian pension plans continue to gain strength but face risks, Wealth Professional, April 2, 2024
- Ontario continues work on infrastructure bank, target-benefit pension plan framework, Benefits Canada, March 27, 2024
- Clear, flexible regulations needed for target-benefit plans: report, Benefits Canada, March 19, 2024
- Pension funds end Q4 2023 with positive results driven by equities, fixed income: report, Benefits Canada, March 5, 2024
- Pension funds improving modestly on climate but more work to be done: report, Benefits Canada, February 28, 2024
- Canada Entered Last Phase of CPP Enhancements on January 1, 2024, Littler, January 29, 2024
- Canadian DB pension plans ended 2023 stronger than they started it, Wealth Professional, January 4, 2024
- Changes to CPP, QPP deductions taking effect this month, Benefits Canada, January 2, 2024
- Alberta government rejects amendments to CPP exit legislation, Benefits Canada, December 11, 2023
- Changes coming to Canada Pension Plan in 2024, CTV News, December 11, 2023
- Alberta legislature wraps up fall sitting, passes Canada Pension Plan exit legislation, Global News, December 7, 2023
- Ontario DB pension plans’ average solvency ratio increased to 117% in Q3 2023: FSRA, Benefits Canada, November 24, 2023
- Bill 33 – British Columbia amends Pension Benefits Standards Act, Eckler, November 23, 2023
- N.S. legislation allowing private employers to transfer pensions into PSSP, Benefits Canada, November 23, 2023
- Removal of ‘30% rule’ could boost investment, reduce private equity fees for Canadian pension funds, Benefits Canada, November 23, 2023
- Average Canadian DB pension plan returns -4% in Q3 2023: reports, Benefits Canada, November 2, 2023
- What is the CPP anyway? And why is Alberta leaving it different from Quebec?, CBC, November 2, 2023
- Finance ministers to meet on Alberta’s proposal to leave Canada Pension Plan, Benefits Canada, October 27, 2023