The evolution of the financial situation of pension plans since December 31, 2007
As announced in 2010 and confirmed in the 2011 Ontario Budget, the Ontario government has increased the Pension Benefits Guarantee Fund (PBGF) assessment rate for defined benefit pension plans with Ontario members.
Every year, companies must establish an expense for their defined benefit pension plans.
In 2011, the Accounting Standards Board (AcSB) indicated that it was reviewing the pension and benefit accounting standards for private enterprises, as well as those for not-for-profit-organizations.
Newfoundland and Labrador has amended the Solvency Funding Relief Regulations effective December 20, 2011.
The Ontario government has introduced a new Family Caregiver Leave, which will expand an employee’s entitlement to a leave to care for an ill or injured family member.
Quebec published two draft regulations proposing relief measures for the funding of actuarial deficiencies for defined benefit plans.
CAPSA released the final versions of Guideline No. 6: Pension Plan Prudent Investment Practices Guideline and the Self-Assessment Questionnaire on Prudent Investment Practices as well as Guideline No. 7: Pension Plan Funding Policy Guideline.
The Régie des rentes du Québec issued a press release in which it announced that pension plan administrators in Quebec will now have two options for producing plan financial statements after December 30, 2011.
Changes in the financial position of a typical defined benefit plan since December 31, 2007.