Pension Investment Association of Canada's 2024 advocacy to focus on funding solvency: Benefits Canada
January 29, 2024
According to Benefits Canada, the Pension Investment Association of Canada (PIAC) says its 2024 advocacy efforts will focus on funding reform, including a revamp of long-term, minimum funding regulations for federally regulated defined benefit (DB) pension plans.
In a recent statement to Benefits Canada, the new chair of PIAC said that with solvency funding a top concern for stakeholders, PIAC is advocating for a uniform going-concern funding rule for all provinces, rather than each province implementing its own requirements.
The chair also stated that the Canadian Association of Pension Supervisory Authorities’ risk management guidelines may impose a disproportionate burden on smaller DB plans lacking dedicated resources.
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