2020 | Issue 2
OBS
A CURATED SELECTION OF INFORMATION AND DOCUMENTS FOR THE RETIREMENT INCOME INDUSTRY.

INDUSTRY INSIDER

Todd Saulnier, Principal, Mercer

 
In November 2019, the ACPM published its white paper “Increasing Support for Retirement Savings: Proposals to Modernize Canadian Tax Rules Applicable to Registered Plans”. One of the key conclusions of the Paper was that the Pension Adjustment Factor designed in the early 1990s is now very out of date. This article dives into illustrations demonstrating the issue and its materiality to Canadians trying to save for their retirement.
 
 
Increasing Support for Retirement Savings: Proposals to Modernize Canadian Tax Rules Applicable to Registered Plans (November 2019)

 


Articles of Interest

 

Steps that Fiduciaries should take to mitigate the cyber threat to their funds


Peter Dewar, President, Linea Secure 

Funds are increasingly targets of cybersecurity attacks because of the large number of Personally Identifiable Information stored and significant investment assets under management.
 
What should you do?
 
This article addresses how to implement a sound cybersecurity approach, preparing for a breach, developing a roadmap, and staying abreast of threats.

 
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New Economic Shock - What are the Impacts on Pension Plans?


Yanick Desnoyers, Vice-President and Senior Economist, Addenda Capital
Christian Robert, Vice-President, Investment Solutions and Liability Driven Investment, Addenda Capital
 
An unprecedented crisis has distressed the global economy. The impacts are far-reaching for all investors, including pension plans, who are forced to rethink their strategies and their effects on plan members.



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How pension plans use leverage judiciously to accomplish plan objectives - A perspective from the CBC Pension Plan



Duncan Burrill, Managing Director/CEO, CBC Pension Plan
Scott Henshaw, CFA, Vice President & Director, TD Asset Management

Can leverage be prudent? The CBC Pension Plan's experience is quite a proof statement. The CBC has used leverage to execute a liability-matching bond overlay for over a decade. This article draws inference from CBC's experience to identify best practices in the use of derivative-based leverage to achieve plan goals.

 
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When DB Investments Go Bad.
The U.S. Supreme Court Offers Comforting Lessons
for Canadian Sponsors and Administrators


Mark Firman, Partner, Davies Ward Phillips & Vineberg LLP


In Thole v. U.S. Bank N.A, the U.S. Supreme Court recently considered the question: “If pension fund investment performance falls precipitously, and no plan members suffer any reduction to their monthly benefits, does it make a claim?” The ruling has comforting results for Canadian sponsors and administrators. In the context of COVID-19, the result may be that much more assuring.

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Group annuity transactions, an advisor’s perspective


Benoît Labrosse, Partner - Asset and Risk Management, Morneau Shepell
 

Group annuity transactions are rapidly increasing in popularity due to their favourable results amongst insurers, plan sponsors and fiduciaries. As more defined benefit plans close or freeze, plan sponsors are exploring group annuities as an investment strategy that protects the interest of beneficiaries and includes solid returns. 

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Pension Fraud and the global pandemic



Alex Beavan, Head of Fraud Investigation, Western Union Business Solutions


 
A challenge faced by pension plans is the incidence of beneficiary fraud.  When a beneficiary passes away, it is common for payments to continue to be received by individuals posing as the deceased.  To assist in the long-term viability and health of a pension fund, it is imperative that this issue is addressed.


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ACPM COVID-19 HUB


Welcome to the ACPM’s hub for COVID-19 updates. There is a lot of information passing through our inboxes and online these days – some of it useful, some of it not. We want to cut through the noise and make sure all Canadian pension management professionals have a place for articles, analyses, and resources that are relevant to the retirement income community in the face of COVID-19.
 
We are monitoring the rapidly evolving circumstances around COVID-19. Please note that this list below is a work in progress as we continue to add new resources. If you have any suggestions you can email us at kismet.baun@acpm.com.  We hope you find it useful.



Watch Now! Moderator Susan Nickerson (Torys LLP), and our panel of experts Ken Burns (Lawson Lundell LLP), Kathy Bush (Blakes LLP) and Julien Ranger (Osler LLP) discuss Fiduciary Duties in the time of COVID-19 and the practical problems for pension fiduciaries arising in the current environment.

 

ACPM Advocacy

Includes: ACPM submissions related to COVID-19 relief and a special letter from Finance Canada.

Regulatory Information

Includes: OSFICAPSA and various provincial agencies

Government Resources

Includes: Government of Canada, Canada Revenue Agency, FCAC,  Statistics Canada and provincial governments.

Legal Resources

Includes: Blakes LLPTorys LLPDavies LLP.

Professional Associations

Includes: OECDWorld Health Organization and various Canadian organizations


LAWS & REGULATIONS

FEDERAL

A collection of postings from the federal government, CAPSA, OSFI and the CRA over the last several months.

Read More

PROVINCIAL

Numerous postings from provincial governments and their respective agencies across the country.

Read More


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