As at December 31, 2012 - Impact on pension expense under international accounting

Jan 1, 2013

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

Tax and pension changes effective January 1, 2013

Jan 1, 2013

This article summarizes key changes to the Income Tax Act (Canada) and Pension Benefits Act (Ontario) that became effective January 1, 2013.

Pooled registered pension plans now available to federally regulated employers

Jan 1, 2013

On December 14, 2012, the federal Pooled Registered Pension Plans Act (the “PRPP Act”) and the accompanying regulations (the “PRPP Regulations”) came into force.

Amendments to individual pension plans

Jan 1, 2013

On December 18, 2012, the Canada Revenue Agency (CRA) announced that for the time being it will not require the amendments that it had been seeking for minimum payouts from Individual Pension Plans (IPPs) covering related persons, if a plan is...

New book defuses perceived retirement crisis

Jan 1, 2013

There is a widespread perception that Canada is heading toward a retirement crisis.

Supreme Court ruling on surplus

Jan 1, 2013

On December 19, 2012, in a unanimous decision, the highest court of Canada stated that members of the federal public service Plan, the RCMP Plan and the regular force of the Canadian Forces Plan were not entitled to an estimated $30 billion “...

Target benefit plans for certain companies in the pulp and paper sector

Jan 1, 2013

On December 6, 2012, the Quebec National Assembly adopted Bill 15, which allows the creation of target benefit pension plans (TBPP) in certain companies in the pulp and paper sector, such as Resolute Forest Products and White Birch Paper.

Cost reductions in provincial drug plans

Jan 1, 2013

The British Columbia government has announced that new generic drug pricing regulations will come into effect on April 1, 2013.

New Brunswick fine tunes shared risk pension plans

Jan 1, 2013

On December 11, 2012, the New Brunswick government announced further proposed amendments to the Pension Benefits Act (“PBA”) via the introduction of Bill 20.