Ontario adopts Multilateral Agreement on PRPPs

Mar 10, 2017

On February 17, 2017, the Ontario government adopted a regulation that will allow Ontario to join the Multilateral Agreement Respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans (the “Multilateral PRPP Agreement”).

British Columbia budget includes 50% cut to MSP premiums

Mar 10, 2017

In the 2017 budget tabled on February 21, 2017, the British Columbia government announced that Medical Services Plan (“MSP”) premiums will be reduced by 50% for residents with a net annual household income below $120,000.

Tracking the funded status of pension plans as at February 28, 2017

Mar 10, 2017

The evolution of the financial situation of pension plans since December 31, 2016

Impact on pension expense under international accounting as at February 28, 2017

Mar 10, 2017

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

Impact on pension expense under international accounting as at January 31, 2017

Feb 15, 2017

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

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...

Review of public sector accounting of retirement and post-employment benefits

Feb 15, 2017

In 2014, the Public Sector Accounting Board (PSAB) identified, as part of a survey, the review of Section 3250 (Retirement Benefits) and Section 3255 (Post-employment Benefits) as one of the top priorities in its agenda.

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...

Tracking the funded status of pension plans as at January 31, 2017

Feb 15, 2017

The evolution of the financial situation of pension plans since December 31, 2016