Ontario announces target benefit framework for collectively bargained multi-employer pension plans

Jul 10, 2017

On June 29, 2017, the government of Ontario announced a target benefit framework for collectively bargained Ontario multi-employer pension plans (MEPPs).

Federally regulated plans: Legislation introduced for target benefits and buy-out annuities

Nov 10, 2016

On October 19, 2016, the federal government introduced Bill C-27, which will permit the establishment of target benefit plans (TBPs) by federally regulated employers, for both single and multi-employer pension plans.

GM’s pension plan changes are troubling

Sep 26, 2016

Toronto Star: A ‘defined benefits’ pension plan offers significant advantages over the increasingly common ‘defined contribution’ plan.

British Columbia: Union consent for conversions to target benefit plans

Sep 12, 2016

In August 2016, the Financial Institutions Commission of British Columbia (FICOM) released Bulletin 16-006 titled “Clarification of Union Consent Requirement for Target Benefit Plan Conversions” (the “Bulletin”).

British Columbia releases Target Benefit Plan Conversion policy

Apr 14, 2016

On March 15, 2016, the Financial Institutions Commission of British Columbia (FICOM) released Bulletin 16-001: Guideline for Converting Plans from Defined Benefit to Target Benefit (the “Bulletin”).

Ontario: Consultation on target benefit plans

Aug 19, 2015

On July 24, 2015, the Ontario government released its consultation paper titled Regulatory Reform for Target Benefit Multi-Employer Pension Plans (“consultation paper”).

Federal budget modifies RRIF minimum withdrawals and TFSA maximum contributions

May 12, 2015

On April 21, 2015, the Federal Government released its 2015 Economic Action Plan (the “Budget”). The Budget includes a number of announcements relating to retirement and benefit plans.

Ontario budget 2015

May 12, 2015

On April 23, 2015, the Ontario Government introduced its 2015 budget (the “Budget”).

Saskatchewan: City of Regina target benefit plan

Apr 17, 2015

The City of Regina and the Civic Pension and Benefits Committee, representing the employers and employees of the Civic Pension Plan, have reached a negotiated agreement to address concerns regarding the long term sustainability of the Plan.

Do target benefit plans offer security for sponsors?

Mar 1, 2015

Benefits Canada: The target benefit plan (TBP) concept continues to evolve in Canada as DB plan sponsors confront funding issues and DC plan sponsors worry about the significant investment risk on the shoulders of individual employees...