Knowledge & Insights
Morneau Shepell’s response to the Department of Finance Canada’s consultation paper, Pension Innovation for Canadians: The Target Benefit Plan.Aug 01, 2014
Morneau Shepell’s submission
The pension landscape needs innovative ideas. Pension coverage and adequacy are tough issues facing Canadians, and the current defined-benefit and defined-contribution models do not fully fit the bill.
Morneau Shepell has launched a website focusing on the sustainability of Canadian pension plans.
Mel Bartlett, Morneau Shepell's Managing Partner, Atlantic Region, has co-authored Target-Benefit Plans in Canada - An Innovation Worth Expanding, a report for the C.D. Howe Institute.
The biggest stories of the quarter with significant ongoing impact
Canadian governments need to move beyond defined-benefit (DB) versus defined-contribution (DC) pension model debates, and towards a middle-ground option that incorporates attributes of both designs.
In its response to the Department of Finance’s consultation paper on the proposed target benefit plan (TBP) framework, Morneau Shepell stressed that all groups should collaborate to ensure a smooth transition.
All groups should collaborate to ensure a smooth transition to target benefit plans (TBP), says Morneau Shepell in its recommendations and its views on the proposed framework outlined in the department of finance's consultation paper.
The Pension Benefits Regulations, 1993 in Saskatchewan has been amended to allow new funding rules for The Regina Police Pension Plan (the “Plan”), effective July 1, 2014.
Canadian consulting firms are welcoming the federal government’s proposed federal framework for target benefit plans.