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ARTICLE · 19 MAY 2014

Federal Framework For Target Benefit Plans vs. New Brunswick’s Shared Risk Model: Similarities And Differences

Osler, Hoskin & Harcourt LLP
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The federal government released a consultation paper proposing a framework for target benefit plans, and seeking input from stakeholders.

CanadaEmployment and HR
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
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On April 24, 2014, the federal government released a consultation paper proposing a framework for target benefit plans (TBP), and seeking input from stakeholders on the parameters of the proposed TBP framework. The government's initiative would incorporate TBP provisions into the federal Pensions Benefits Standards Act, and would make TBPs available to federally regulated private sector employers and Crown Corporations. For a primer on TBPs, see our prior Osler series on TBPs.

There are a number of notable similarities between the proposed federal TBP framework and New Brunswick's shared risk plan (SRP) model.

Administration and Governance

The proposed approach in the federal consultation paper is a joint governance structure that would require active member, retired member and other plan beneficiary participation, and permit plan sponsor and external representative (e.g., pension experts or professionals) participation. It is proposed

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