Every year, companies must establish an expense for their defined benefit pension plans.
Following its meeting on February 13, 2013, the Canadian Accounting Standards Board (AcSB) has extended again for 1 yr, up to January 1, 2015, the deferral of the mandatory IFRS changeover date for entities with qualifying rate-regulated...
Canada’s Public Policy Forum, in joint sponsorship with Morneau Shepell and SunLife Financial, held a pension reform summit in Fredericton on February 19th and 20th.
On February 12th, the Office of the Superintendent of Financial Institutions (OSFI) hosted its annual pension forum in Toronto to discuss issues and initiatives affecting federally regulated pension plans.
On February 1, 2013, the Supreme Court of Canada released its decision in Sun Indalex Finance, LLC v. United Steelworkers (“Indalex”).
On February 28, 2013, the British Columbia government introduced Bill 16, the Pooled Registered Pension Plans Act (the “Act”).
On March 18, 2013, the British Columbia Family Law Act came into effect, governing, among other things, the division of pension plan assets upon marriage breakdown.
On February 11, 2013 the Nova Scotia Department of Labour and Advanced Education relaxed the funding rules for private sector defined benefit pension plans, for the period between January 3, 2011 and January 2, 2014.
This graph shows the changes in the financial position of a typical defined benefit plan since December 31, 2007.
The Financial Services Commission of Ontario (FSCO) has published its guidance note with regards to disclosure requirements for financial statements of pension plans or pension funds (FSGN-001).