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