The Association of Canadian Pension Management (ACPM) reports that it is pleased with the Alberta and British Columbia governments’ decision to appoint a Joint Expert Panel on Pension Standards, which will collaborate to review the two provinces’ pension legislation.

The Expert Panel will consult with stakeholder groups to examine the legislation that governs Alberta and BC’s pension plans in an effort to create greater harmonization of pension standards between the two provinces. Specific areas of focus include: encouraging the establishment and maintenance of employee pension plans while ensuring fairness for both employers and employees; balancing risks and rewards; and removing barriers to the creation and maintenance of pension plans in the two jurisdictions.

ACPM says it has been working tirelessly to ensure a level regulatory environment that encourages employers to establish and maintain pension plans that provide for a secure retirement. To that end, the Association presented a brief to the Ontario Expert Commission on Pensions, which is currently reviewing the pension legislation in that province.

“We are very happy with the announcement of this joint review. This, along with the review already underway in Ontario, represents a significant step forward for Canada’s pension industry. It is a clear indication that these governments recognize the importance of occupational pension plans, and the importance of having clear legislation that will allow pension plans to remain viable and sustainable. The ACPM commends the governments on this initiative and we will support the work of this Expert Panel in any way we can,” says Scott Perkin, ACPM president.

Perkin adds that he is “very pleased with the appointment of Chris Brown as co-chair of the panel. Chris is a former vp and director of the ACPM board. Elaine Noel-Bentley, another Alberta member of the Panel, was also a long-time member of the ACPM board and Alberta Council. Both individuals are respected in this industry and will serve the panel well.”