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Federal Government Releases Next Round of Proposed Regulatory Amendments

Last Friday, the federal government released the next round of proposed amendments to the Pension Benefits Standards Regulations, which will change or enact new provisions regarding plan investments, defined contribution (DC)...more

9/24/2014 - Canada Employee Benefits Pension Reform Pensions

Alberta Pension Reform: Getting Started on Plan Compliance Amendments

Effective September 1, 2014, the new Alberta Employment Pension Plans Act (New EPPA) and Employment Pension Plans Regulation (New Regulation) came into force. Pension plans registered in Alberta, as well as plans registered...more

9/11/2014 - Benefit Plan Sponsors Canada Compliance Employee Benefits Pension

Plan Administration Changes in New Alberta Pension Legislation: Make Sure You Are in Compliance (Part II of II)

In this post, we discuss the amendments in the new Employment Pension Plans Act (EPPA) and the accompanying Employment Pension Plans Regulation (EPPR), which came into force on September 1, 2014, with respect to plan...more

9/9/2014 - Canada Compliance Employee Benefits Pensions

Plan Administration Changes in New Alberta Pension Legislation: Make Sure You Are in Compliance (Part I of II)

The new Employment Pension Plans Act (EPPA) and the accompanying Employment Pension Plans Regulation (EPPR), which came into force on September 1, 2014, are reforming the pension regulatory landscape in Alberta. In...more

9/4/2014 - Canada Disclosure Requirements Document Retention Policies Missing Persons New Regulations Pension Reform Pensions

Alberta’s New Target Benefit Regime

Alberta is moving forward with sweeping pension reforms in the new Employment Pension Plans Act (EPPA) and regulations, which come into effect on September 1, 2014. Alberta’s new approach of providing comprehensive and...more

8/21/2014 - Canada Pension Reform Pensions

Federal Framework for Target Benefit Plans vs. New Brunswick’s Shared Risk Model: Similarities and Differences

On April 24, 2014, the federal government released a consultation paper proposing a framework for target benefit plans (TBP), and seeking input from stakeholders on the parameters of the proposed TBP framework. The...more

5/16/2014 - Canada Employee Benefits Pensions

Pension Innovation: New Brunswick’s Shared Risk Model

New Brunswick has enacted legislation to permit shared risk pension plans (SRPs), a type of target benefit plan (TBP), while other Canadian provinces have passed amendments to enable TBPs. This article discusses...more

5/13/2014 - Canada Employee Benefits Pensions

Ontario Government Committed to Improving Pensions Through Extensive and Innovative Measures

The 21st century workforce needs a modern retirement income system, but Ontario and Canada have a 20th century system in place. That is why Ontario is taking a leadership role in addressing this pressing issue....more

5/2/2014 - Canada Pensions Retirement

Differentiating Pension Issues: TBPs vs. CPP

We noticed last week after the federal government’s welcome announcement to commence a consultation process on target benefit plans (TBPs) that much of the media coverage and discussion focussed on the Canada Pension Plan...more

4/30/2014 - Canada Defined Benefit Plans Defined Contribution Plans Employee Benefits Pensions

Federal Government Announces Target Benefit Plan Consultation

Earlier today, the Minister of State (Finance), Kevin Sorenson, announced that the federal government is launching consultations on a potential federal framework for Target Benefit Plans, or TBPs. TBPs would be a new,...more

4/25/2014 - Benefit Plan Sponsors Canada Employee Benefits

Big Changes for Alberta Public Sector Pension Plans

On April 16, 2014, the government of Alberta tabled Bill 9, Public Sector Pension Plans Amendment Act, 2014 (Bill 9), which proposes significant changes to public sector pension plans in Alberta. In this blog post, I...more

4/24/2014 - Canada Pension Plan Amendments Public Employees Public Employers

Amendments to Alberta’s Proposed New Employment Pension Plans Act

Alberta appears to be moving forward with its pension reform agenda. As you may recall, on December 10, 2012, Alberta’s new Employment Pension Plans Act (the Proposed New EPPA) received royal assent, but it has not yet been...more

4/23/2014 - Canada Employee Benefits Pensions Proposed Regulation Retirement Plan

The ABC’s of Target Benefit Plans – Part III

This is my third blog post in a series on target benefit plans. In the first post, I discussed the basics of target benefit plans (TBP), also referred to as defined ambition plans. In the second post, I discussed New...more

4/1/2014 - Benefit Plan Sponsors Employee Benefits Unions

New Brunswick Reforms MLAs Pensions to Shared Risk

On March 26, 2014, the New Brunswick legislature introduced for first reading Bill 51, An Act Respecting Members’ Pensions, which proposes to move Members of the Legislative Assembly (MLAs) to the shared risk pension plan...more

3/28/2014 - Canada Employee Benefits Pensions

The ABC’s of Target Benefit Plans – Part II

This is my second blog post in a series regarding target benefit plans (TBPs) (for Part I, which provides a general overview of TBPs, see my March 10, 2014 post). In this post I will focus on New Brunswick, as the first...more

3/18/2014 - Benefit Plan Sponsors Canada Employee Benefits

The ABC’s of Target Benefit Plans – Part I

This is my first blog post in a series regarding target benefit plans (TBPs) (also called defined ambition plans). In this post, I will describe what TBPs are and why such plans should be permitted under pension laws as a...more

3/11/2014 - Employee Benefits

Ontario Latest Jurisdiction to Announce Changes to Public Sector Employee Benefits

Earlier this week, the Ontario government announced that it would be making changes to its post-retirement benefit program in order to “bring the Ontario Public Service retiree benefits in line with other public sector...more

2/21/2014 - Canada Employee Benefits Public Employees

Federal Budget 2014 Includes Pension Changes for Public Sector Employees

Yesterday’s federal budget demonstrates that, like many of its provincial counterparts, the federal government is looking for cost savings in its employees’ compensation arrangements. ...more

2/13/2014 - Canada Compensation Agreements Pensions Public Employees

New Brunswick Proposes Public Sector Changes

On November 19, 2013, the Province of New Brunswick introduced for First Reading, An Act Respecting Pensions under the Public Service Superannuation Act (the Act). Under the Act, the Public Service Superannuation Act (PSSA)...more

11/20/2013 - Pensions Public Employees Superannuation

Public Sector Pension Reform Includes Retirees

Reform of Canada’s public sector pension plans is no longer limited to active employees – increasingly governments are willing to address expensive components of retiree pensions as a part of their reform initiatives. ...more

10/18/2013 - Canada Cost-of-Living Pensions Retirement Plan

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