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Amid a period of stock market turbulence, the first quarter of 2025 ended with a slight deterioration in the financial position on the going concern and solvency basis.
Amid a period of stock market turbulence, the first quarter of 2025 ended with a slight deterioration in the financial position on the going concern and solvency basis.
On January 29, 2025, Retraite Québec published guidelines concerning the reinstatement of the automatic pension indexation for members who were retired on December 31, 2013 within the meaning of the Act to foster the financial health and sustainability of municipal defined benefit pension plans (Act 15).
The year 2024 brought a marked improvement in both the going concern and solvency financial positions.
The going concern financial position improved during 2024 but remained stable in the fourth quarter. Meanwhile, the solvency financial position remained stable throughout 2024 and in the last quarter.
Our specialists prepared a reference guide with the key social security parameters for 2025. This quick and easy-to-use document is your reference for public pension plans and other retirement plans. Feel free to add the web page to your bookmarks!
In recent months, we have monitored various activities concerning Ontario pension plans initiated by either the Financial Services Regulatory Authority of Ontario (FSRA) or Ontario’s Ministry of Finance. This bulletin summarizes publications on the following recent topics and provides a summary of FSRA’s activities in 2024.
In mid-October, the Public Sector Accounting Board (PSAB) published a re-exposure draft on section PS 3251, the new standard for employee benefits that would apply to Canadian public sector entities and would replace sections PS 3250 and PS 3255.
On November 7, the Quebec government introduced Bill 80 to the National Assembly in order to implement provisions announced in the Budget Speech delivered on March 12, 2024. This bill reaffirms Quebec’s leadership in decumulation by specifying the legislative framework for the implementation of dynamic pension funds, also known as variable payment life annuities (VPLAs).
In Q3 2024, the average pension plan’s going concern financial position remained stable. Solvency remained stable for the Previous component but deteriorated for the New component.
In Q3 2024, the average pension plan’s going concern and solvency financial positions remained stable.
On September 9, 2024, the Canadian Association of Pension Supervisory Authorities (CAPSA) released two new guidelines for pension and group savings plan administrators and sponsors: Guideline No. 10 for risk management for plan administrators and Guideline No. 3 for capital accumulation plans . As a reminder, CAPSA is an association of pension regulators for provincial and federal plans whose mission is to promote the establishment of an efficient and effective pension regulatory system in Canada.
