Ontario proposes changes to financial hardship unlocking program

Dec 1, 2012

The Ontario Ministry of Finance has released a summary of a proposed regulation to restructure the financial hardship unlocking program for locked‑in funds. The summary follows up on an announcement in the 2012 Ontario Budget.

New psychological health and safety workplace standard to be launched

Dec 1, 2012

Early in the new year, the National Standard of Canada for Psychological Health and Safety (PHS) in the workplace will be unveiled. Developed by the Mental Health Commission of Canada (MHCC) and in collaboration with CSA Standards (Canadian...

Quebec budget 2013-2014

Dec 1, 2012

On November 20, 2012, Quebec Finance Minister Nicolas Marceau tabled Quebec’s 2013-2014 budget. The following are excerpts from budget documents outlining Minister Marceau’s announcements regarding retirement and health.

Spousal entitlement to death benefits

Dec 1, 2012

A recent split decision of the Ontario Court of Appeal in Carrigan v. Carrigan Estate delivered an unexpected and unsettling interpretation of spousal entitlement to a pre-retirement death benefit under the Pension Benefits Act (the “Act”).

New Ontario Regulations Provide Anticipated Funding Flexibility

Nov 6, 2012

On November 2, 2012, Regulation 329/12, amending Regulation 909 made pursuant to the Ontario Pension Benefits Act, R.S.O. 1990, as amended, was published on e-Laws.

As at October 31, 2012 - Impact on pension expense under international accounting

Nov 1, 2012

Every year, companies must establish an expense for their defined benefit pension plans.

Proposed mortality table and improvement scale will increase Canadian pension liabilities

Nov 1, 2012

Canadian pensioner mortality experience studies may result in a new mortality table and improvement scale that, if adopted in the actuarial standards of practice, will likely increase pension liabilities between 3% and 8% depending on the...

Buying annuities for defined benefit plans: Why not?

Nov 1, 2012

Defined benefit pension plans are currently looking for solutions to manage their risk. Oddly, buying annuities is seldom included in the strategies contemplated for this purpose.

Group benefit changes effective January 1, 2013

Nov 1, 2012

As the New Year approaches, it is a prudent time to reiterate two changes announced earlier in 2012 that may impact group benefit programs and will take effect January 1, 2013.

Who determines the assumptions for pension plans?

Nov 1, 2012

How pension plans are valued impacts a plan sponsor’s cash contributions to the plan and the amount of pension expense reported in its financial statements.