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Every year, companies must establish an expense for their defined benefit pension plans.
This article summarizes key changes to the Income Tax Act (Canada) and Pension Benefits Act (Ontario) that became effective January 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.
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...
There is a widespread perception that Canada is heading toward a retirement crisis.
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 “...
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.
The British Columbia government has announced that new generic drug pricing regulations will come into effect on April 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.