Category: CAPSA
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CAPSA Announcement re Multi-Jurisdictional Agreement
Further to several jurisdictions publishing regulations/orders approving the 2020 agreement regarding multi-jurisdictional pension plans (the 2020 Agreement), CAPSA has released its communications regarding the adoption of the 2020 Agreement . . .
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CAPSA Guidance re Electronic Communications & Solvency Liability Reports
Further to consultations last fall, CAPSA has published two guidelines in final form: Guideline No. 2: Electronic Communication in the Pension Industry (updated) and Guidance re Solvency or hypothetical wind-up liabilities based on actual life insurance company annuity quotation . . .
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CAPSA Strategic Plan 2019-2022
CAPSA has published its Strategic Plan for 2019-2022. The plan sets out the following priorities . . .
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CAPSA Recommendations re DB Plan Funding
In response to recent amendments to defined benefit plan funding rules across Canada, CAPSA has published a paper which sets out recommendations regarding the funding of defined benefit plans. Overall, CAPSA concluded that "there were several elements from the new funding frameworks in Québec and Ontario, which could be amalgamated to promote a harmonized framework across Canadian jurisdictions . . .
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CAPSA Communique re Use of Leverage
CAPSA has published a communique regarding the use of leverage by pension plans, which sets out the key findings of a working group that has been studying the issue and next steps . . .
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CAPSA Guidelines re DC Plans & Unlocatable Members
Further to last year's consultations, CAPSA has published two final guidelines: Guideline No. 8: Defined Contribution Pension Plans Guideline and Guideline No. 9: Searching for Un-locatable Members of a Pension Plan . . .
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CAPSA Newsletter January 2019
CAPSA published a newsletter, which provides a status update on recent consultations and the multi-jurisdictional agreement . . .
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CAPSA Consultations re Electronic Communications & Solvency Liability Reports
CAPSA has published two guidelines for consultation: Guideline No. 2 – Electronic Communication in the Pension Industry (revised) and Guidance: Solvency or hypothetical wind-up liabilities based on actual life insurance company annuity quotation (new).
Comments on both documents are due by December 13, 2018.
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CAPSA Revised Guideline re Defined Contribution Plans
CAPSA has published a revised Guideline No. 8: Defined Contribution Pension Plans Guideline for consultation. The amendments focus on providing further guidance on the payout phase and the decisions/actions leading up to it, including with respect to variable benefits, assumptions used when estimating values at retirement and fee disclosure.
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CAPSA Draft Guideline re Unlocatable Pension Plan Members
CAPSA published draft Guideline No. 9: Searching for Unlocatable Members of a Pension Plan for comment. Comments are due by August 2, 2018.
Un-locatable plan members create ongoing challenges for plan administrators who are required to maintain these former members' benefits. This issue is particularly challenging in the context of a pension plan wind up where the benefits of unlocatable plan members often remain in the plan, preventing the plan administrator from paying out all of the plan benefits and fully winding up the plan.
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