Decrease in premium tax delayed

Apr 13, 2017

Benefits and Pension Monitor News: The Quebec government has delayed, by five years, the decrease in the compensation tax on insurance premiums, thereby depriving plan sponsors of an expected reduction of 0.18 per cent in this tax.

Saskatchewan budget: New tax on insurance premiums

Apr 10, 2017

Changes to Saskatchewan’s provincial sales tax (PST) were announced in the recent 2017 budget.

Quebec budget: Compensation tax on insurance premiums

Apr 10, 2017

The Quebec government’s budget tabled on March 28, 2017 delayed, by five years, the decrease in the compensation tax on insurance premiums, thereby depriving plan sponsors of an expected reduction of 0.18% in this tax.

Recommendation to increase retirement age under public plans

Feb 15, 2017

The government-appointed Advisory Council on Economic Growth has recommended that the age of eligibility for OAS, CPP and GIS be increased to “meet the reality of an ageing society and a considerably longer life expectancy”.

Taxation of employer health and dental plans

Feb 15, 2017

In recent months, there has been speculation that the federal government might be considering a major change in tax rules in the next federal budget that would make employer contributions to extended health and dental plans taxable to employees...

CAPSA: Revised Governance Guideline

Feb 15, 2017

On December 22, 2016, CAPSA, consisting of Canada’s pension regulators, published revised Guideline No. 4: Pension Plan Governance Guideline, along with the related Self-Assessment Questionnaire and FAQ Document, in final form following industry...

Manitoba: More solvency funding relief

Jan 17, 2017

On December 19, 2016, Manitoba amended its regulations to permit Manitoba-registered pension plans with a defined benefit (DB) component to extend the regular solvency amortization period from 5 to 10 years.

Overhaul to QPP could cause difficulties for national employers

Dec 19, 2016

The Insurance & Investment Journal: Quebec is considering changes to its provincial pension plan. Depending on which proposals are implemented, they could make pension administration difficult for national employers.

Prince Edward Island: Changes to premium taxes

Dec 13, 2016

Changes to premium taxes were announced by the Prince Edward Island government in October 2016.