On June 20, 2024, in a fortunate turn of events, the Government of Alberta adopted long-awaited changes to the calculation of the Provision for Adverse Deviation (PfAD) applicable to target benefit provisions under pension plans …
June 26th, 2024
October 16th, 2023
Changes to B.C. Pension Legislation on the Horizon
On October 4, 2023, the Government of B.C. introduced Bill 33: Pension Benefits Standards Amendment Act, 2023. The proposed amendments set the table for defined contribution plans in B.C. to offer a new option for …
October 5th, 2022
B.C. Target Benefit Plans: PfAD Changes Effective December 31, 2022
Our last post on the topic of Target Benefit Plan (TBP) PfADs was in early 2021, noting that temporary relief had been approved by the B.C. government. We also noted that a Working Group had …
January 6th, 2021
B.C. Target Benefit Plans: PfAD Suspension Effective December 31, 2019
While it may have gotten lost in the run-up to holiday season, the Order in Council passed on December 18, 2020 to suspend the application of the PfAD to B.C.’s roughly 40 target benefit plans …
December 21st, 2020
Revised Draft Legislative Proposals for ELHTs
Budget 2018 saw the federal government propose legislative changes to the section of the Income Tax Act governing Employee Life and Health Trusts (ELHTs). For reference, upon the introduction of ELHTs in 2010, they co-existed …
January 13th, 2020
Should I Take My Commuted Value? Interest Rates, Mortality Tables and Their Effect on Commuted Values
We are often asked by members whether or not they should take their commuted value as a lump sum payout upon termination. Many of these members desire to have control over the investment of their …
December 16th, 2019
New B.C. Defined Benefit Funding Rules and Single Employer Target Benefit Plans
Last week the B.C. government announced new defined benefit (DB) plan funding rules that take effect December 31, 2019. Some might say that these changes have been long overdue given that the past regime’s heavy …
November 3rd, 2017
Essential Tasks of Pension and Benefit Plan Trustees: PBLI Conference Feb, 28, 2018 – Registration Now Open
I will be speaking at Pacific Business & Law Institute’s, “Essential Tasks of Pension and Benefit Plan Trustees,” on February 28, 2018. The conference assembles leading experts to educate Plan trustees on their legal duties …
January 19th, 2016
Target Benefit Plans: Use of Surplus
On August 12th last year, we posted an article on our blog “New Funding Rules for Target Benefit Plans”, in which we reviewed the new funding rules that will apply to the collectively-bargained multi-employer pension …
October 30th, 2015
Are you Joining us in Vegas?
Jeremy, Greg and I will be speaking at the 48th Annual Canadian Employee Benefits Conference in Las Vegas, November 22-25, 2015. The Annual Conference is one of Canada’s largest pensions and employee benefits events, attracting …
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