Information About Pensions & Benefits Law
Below is a preview of the five most recent posts from the blog Pensions & Benefits Law. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!
- Amendments to Ontario’s Pension Benefits Act include changes related to missing members, electronic communications and JSPPs
Wide-ranging amendments to Ontario’s Pension Benefits Act (PBA) came into force on December 10, 2019 when the Better for People, Smarter for Business Act, 2019 (Bill 132) and the Plan to Build Ontario Together Act, 2019 (Bill 138) received royal assent. The bills contain a grab-bag of small but pot … Read more »
- Discharge for annuity buy-outs in Ontario: It’s finally here!
Ontario’s long-awaited changes to provide for statutory discharges on the purchase of buy-out annuities are finally in force. The buy-out annuity is a popular risk management mechanism in many jurisdictions, such as the UK and the U.S. This is because the purchase of a buy-out annuity transfers ri … Read more »
- Target date funds: Don’t let your guard down
A 2017 survey conducted by FSCO found target date funds to be the most common default member-directed investment option offered by Ontario-registered defined contribution (DC) pension plans. Target date funds adjust and purport to reduce risk of the fund’s asset allocation according to the age or ex … Read more »
- Pension design innovation for the 21st century
Pension design innovation has been discussed, debated and promoted for several years now in the pension industry. We all seem to understand the need to expand pension coverage, stop the decline of workplace pensions and facilitate innovative plan design. The question is how? If you go back in tim … Read more »
- Ontario amends pension legislation to address electronic beneficiary designations
Pension plan administrators are implementing electronic tools as part of their administration processes with increasing frequency. This can be attributed to factors such as the prevalence of technology in society generally, the efficiency of using electronic processes and shifts in member demographi … Read more »