Strengthening Canadians' Retirement Security Consultation
Current Status: Open
Promoting the retirement income security of Canadians is an important goal of the Government of Canada. Canada has a sound retirement income system that is internationally recognized for its adequacy, affordability and sustainability. Private employment-based registered pension plans form an essential component of that system. To support the sustainability of defined benefit pension plans and enhance retirement security, and to seek views and feedback on potential options for temporary broad-based solvency funding relief in 2021, this consultation paper seeks views and feedback on proposals to further strengthen the framework for federally regulated pension plans.
Specifically, we want to hear from you on the following measures that build off the legislative changes announced in Budget 2019 and the Government’s previous consultation on the topic in 2018:
- Pension plan governance
- Solvency reserve accounts
- Variable payment life annuities
- Ministerial guidelines on special funding relief
We are actively seeking and accepting submissions until January 14, 2021. Send us your official documentation by email or by mail.
Send us an email
FIN.Pensions-Pensions.FIN@canada.ca with Submission: Strengthening Canadians’ Retirement Security Consultation as the subject line.
Participate by mail
Financial Crimes and Security Division
Financial Sector Policy Branch
Department of Finance Canada
James Michael Flaherty Building
90 Elgin Street
Ottawa ON K1A 0G5
Who is the focus of this consultation?
Through this consultation, we want to hear from pension plan sponsors, unions, the actuarial and legal professions, retiree groups and members of the public.
Our conversation doesn’t end here.
The Department of Finance may make public some or all of the comments received or may provide summaries in its public documents.Those providing comments are asked to indicate clearly the name of the individual or the organization that should be identified as having made the submission. In order to respect privacy and confidentiality, please advise when providing your comments whether you:
- consent to the disclosure of your comments in whole or in part;
- request that your identity and any personal identifiers be removed prior to publication; or
- wish that any portions of your comments be kept confidential (if so, clearly identify the confidential portions).
Information received through this comment process is subject to the Access to Information Act and the Privacy Act. Should you indicate that your comments, or any portions thereof, be considered confidential, the Department of Finance will make all reasonable efforts to protect this information.
- Government launches consultations on strengthening federally regulated pension plans
- Government announces relief for federally regulated pension plan sponsors
- Government announces coming into force of regulations providing relief to federally regulated pension plan sponsors
Get in touchFIN.Pensions-Pensions.FIN@canada.ca
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