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Submission to the Department of Finance on Federally Regulated Private Pension Plans

Published on 18/01/2021

Pensions and Retirement > Employer pension plans Retirement Income System Reviews

On January 14th, the CLHIA made its submission to a Finance Canada consultation on “Strengthening Canadians’ Retirement Security – Proposals to Support the Sustainability of and Strengthen the Framework for Federally Regulated Private Pension Plans.” The submission commended the department for initiating this consultation on the security and governance of Canada’s pension plans.  However, it also proposed some enhancements to the proposal to ensure that they are workable and provide necessary retirement income security so that Canadians may retire with confidence: 

  • Broadening the scope of VPLAs to enable viable risk solutions to be manufactured and managed effectively and competitively
  • Supporting the department’s temporary solvency funding relief to plan sponsors to mitigate the impacts of the pandemic on businesses while balancing retirees’ interests 
  • Harmonization of governance policies and best practices across Canada help ease administration burden. 

    • Letter to the Secretariat of the Canadian Association of Pension Supervisory Authorities (CAPSA) re: Quarterly Meeting 3 year planning priorities

    Published on 27/03/2020

    Pensions and Retirement > Public pensions (OAS/CPP/QPP/GIS) Pooled registered pension plans/PRPPs (and provincial variations) Employer pension plans Registered Products (RRSP, LIRA, RRIF)

    CLHIA Process on Electronic Declarations

    Published on 24/12/2019

    Trade & Commerce > Electronic Commerce

    Enhancing retirement income options for Canadians

    Published on 29/11/2019

    Pensions and Retirement > CLHIA Pensions and Retirement Policy Paper Public pensions (OAS/CPP/QPP/GIS) Pooled registered pension plans/PRPPs (and provincial variations) Employer pension plans

    Letter to Minister of Social Development and Poverty Reduction re: British Columbia Framework for Accessibility Legislation

    Published on 29/11/2019

    Insurance > Provincial & Territorial Legislation

    Insurers and healthcare groups collaborate to help providers and patients better understand health insurance benefits

    Published on 13/11/2019

    Group Insurance > Employee benefit plans

    Understanding Claims for Treatment of Obstructive Sleep Apnea with Positive Airway Pressure (PAP) Devices

    Published on 03/01/2018

    Group Insurance > CLHIA Group Insurance guidelines and reference documents Paramedical benefits Employee benefit plans

    A Canadian Success Story: PROMOTING TRADE IN LIFE AND HEALTH INSURANCE

    Published on 16/05/2017

    International > International Trade CLHIA International Trade Policy Paper

    This position paper briefly describes the benefit of trade in financial services to Canada, the participation of our insurance companies in foreign markets, and the policy directions the Canadian government should take to promote and facilitate trade, particularly for financial services.

    Understanding Claims for Footwear and Orthotics

    Published on 01/03/2018

    Group Insurance > CLHIA Group Insurance guidelines and reference documents Paramedical benefits Employee benefit plans

    Guaranteed Withdrawal Benefit (GWB) Illustrations

    Published on 22/03/2011

    Distribution Insurance > CLHIA Distribution guidelines and reference documents Product disclosure CLHIA Insurance guidelines and reference documents Segregated Funds (IVICs)

    The purpose of this Guideline is to describe the information that should be included in illustrations of IVICs offering guaranteed withdrawal benefits. In particular, the Guideline identifies features that could be misunderstood by consumers or which are affected by consumer decisions and recommends practices to assist in explaining these.