Tuesday, September 2nd15.9°C
22736
22746

Ottawa to table shared-risk pension plan legislation next year: Sorenson

OTTAWA - Junior finance minister Kevin Sorenson says the government is going ahead with creating so-called shared-risk pension plans in the federally regulated sphere.

Sorenson says the government has just completed two months of consultations on the issue and draft legislation will likely be placed before Parliament in early 2015.

The minister of state for finance says the shared-risk plans — which have also been referred to as target benefit plans — are needed because defined-benefit plans are becoming scarcer.

The shared-risk plans allow for both employers and employees to adjust contributions and benefits to reflect the financial state of the plans.

Sorenson says there are over 1,200 federally regulated plans, including Crown corporations, and that both defined-contribution and defined-benefit plans would be able to convert to the third option on a voluntary basis.

One issue that would still need to be clarified in the upcoming regulations is what would constitute agreement on the part of the employee group or those already retired.

The Canadian Press


Read more Business News

21313


Recent Trending




Today's Market
S&P TSX15593.00-32.73
S&P CDNX1014.00-9.99
DJIA17029.64-68.81
Nasdaq4580.026-0.246
S&P 5001996.38-6.99
CDN Dollar0.9154-0.004
Gold1287.40-3.30
Oil95.96+1.29
Lumber349.80+1.40
Natural Gas4.116+0.014

 
Okanagan Companies
Pacific Safety0.20+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.190.00
Cantex0.08+0.01
Anavex Life Sciences0.250.00
Metalex Ventures0.07-0.005
Russel Metals36.42-0.06
Copper Mountain Mining2.91-0.02
Colorado Resources0.17-0.01
ReliaBrand Inc0.10+0.001
Sunrise Resources Ltd0.0250.00
Mission Ready Services0.225-0.02

 



22253

FEATURED Property
19739998-950 Lanfranco Road
2 bedrooms 2 baths
$399,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Manage your behaviour

You can’t manage what you can’t control! You can’t manage the number of sales you’re going to make but you can manage the behaviour that will help you make those sales. Obvious...


At the Core: Lessons in pricing from Apple

Apple has taught many entrepreneurs the importance of design, how to create buzz when introducing new products to the marketplace, how to pioneer new technology and the importance of superior quality....


New Real Estate Brokerage in town

Move over “big guys” there’s a new brokerage in town featuring local expertise, long standing experience and a fresh boutique approach. Kelowna, August 31 2014 – You may have...

_



22692

22692


Member of BC Press Council


22810