Ontario court decision extends principle of resulting trust to beneficiary designations
Sep 21, 2020The Ontario Superior Court recently decided in Calmusky v. Calmusky that the beneficiary of a Registered Retirement Income Fund (RRIF) was holding the benefits in trust for the estate of the deceased RRIF owner.
Update: CRA newsletter on annuity purchases from pension plans
Sep 21, 2020On July 24, 2020, the Registered Plans Directorate of the Canada Revenue Agency (CRA) released Newsletter 20-1 on the topic of buy-out annuity contracts and, in particular, the question of what constitutes a “material difference” between an...
Newfoundland consultation on unlocking of pension benefits for financial hardship
Sep 21, 2020On July 29, 2020, the Newfoundland and Labrador (NL) government announced that it was considering amendments to the Pension Benefits Act regarding the unlocking of pension benefits for situations of financial hardship.
Tracking the funded status of pension plans as at August 31, 2020
Sep 21, 2020The evolution of the financial situation of pension plans since December 31, 2019
Impact on pension expense under international accounting as at August 31, 2020
Sep 21, 2020Every year, companies must establish an expense for their defined benefit pension plans.
OSFI lifts freeze on commuted value transfers and buy-out annuity purchases
Sep 21, 2020On August 31, 2020, the OSFI announced it has revised its Directives of the Superintendent pursuant to the Pension Benefits Standards Act, 1985 (the Directives) to lift the freeze on commuted value transfers and buy-out annuity purchases effective...
Gen X, front-line workers feeling less safe at work
Sep 15, 2020HR Reporter: Forty per cent of front-line workers feel pressured to go into work during COVID-19, found a survey.
Online therapists are helping workers cope with COVID-19 anxiety
Sep 13, 2020Human Resources Director Magazine: While the COVID-19 outbreak continues to affect the mental health of Canadians, leaders in the public and private sectors are turning to digital tools to help address its impact.
Ontario introduces forms for DC plans offering variable benefits
Aug 24, 2020The Financial Services Regulatory Authority of Ontario (FSRA) has introduced various variable benefit forms, which will enable Ontario members of defined contribution (DC) plans and their spouses to access variable benefits and access various...
Supreme Court of Canada orders repayment of pension benefits made in error
Aug 24, 2020The Supreme Court of Canada has ruled in Threlfall v. Carleton University that a Quebec woman must repay nearly half a million dollars she had collected on behalf of a missing member of the Carleton University pension plan while the member was...