Prince Edward Island announces catastrophic drug program

Jun 1, 2013

Prince Edward Island (PEI), one of two provinces currently without a catastrophic prescription drug program, has announced plans to make available provincial funding for prescription drug costs which exceed a threshold based on family income.

Taxability of business travel accident coverage

Jun 1, 2013

The May 2012 edition of News & Views outlined the 2012 Federal Budget’s impact on the taxability of critical illness and accidental death and dismemberment (AD&D) premiums.

As at May 31, 2013 - Tracking the funded status of pension plans

Jun 1, 2013

This graph shows the changes in the financial position of a typical defined benefit plan since December 31, 2007.

As at May 31, 2013 - Impact on pension expense under international accounting

Jun 1, 2013

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

Amendments to funding rules for pension plans in the municipal and university sectors

May 29, 2013

A draft regulation that would allow a new separate component to be created within municipal or university pension plans was published in the Gazette officielle du Québec on May 15, 2013. This draft would also simplify administration of cost...

D’Amours Committee proposes major reforms to the Quebec pension system

May 9, 2013

In late 2011, at the request of the Liberal government, the Régie des rentes du Québec (the “Régie”) set up an expert committee chaired by Alban D’Amours.

Ontario’s 2013 budget

May 1, 2013

On May 2, Ontario’s Government brought forward its 2013 Budget, including a few items relevant to pensions and employee benefits.

Update on PRPPs: New bills in Alberta and in Quebec

May 1, 2013

Alberta introduced legislation on April 18, 2013, for Pooled Registered Pension Plans (PRPPs), following Saskatchewan and BC,1 as reported in our News & Views of April 2013.

IFRS accounting: Proposed amendment to IAS 19

May 1, 2013

In March 2013, the International Accounting Standards Board (“IASB”) issued an Exposure Draft that proposes changes to the IAS 19 accounting rules for defined benefit plans.