Spousal entitlement to death benefits

Dec 1, 2012

A recent split decision of the Ontario Court of Appeal in Carrigan v. Carrigan Estate delivered an unexpected and unsettling interpretation of spousal entitlement to a pre-retirement death benefit under the Pension Benefits Act (the “Act”).

Update: Pension and benefit accounting for private enterprises

Dec 1, 2012

In January 2012, the Canadian Accounting Standards Board (AcSB) issued an Exposure Draft entitled “Employee Future Benefits” proposing changes to the accounting for defined benefit plans for private enterprises and not-for-profit organizations (...

Facilitating pooled asset management for Ontario’s public-sector institutions

Dec 1, 2012

On May 30, 2012, Dwight Duncan, Ontario’s Minister of Finance, appointed Bill Morneau as the independent Pension Investment Advisor, in order to determine the advantages of pooled asset management for Ontario’s public sector pension funds...

As at November 30, 2012 - Tracking the funded status of pension plans

Dec 1, 2012

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

Ontario issues letter of credit regulations

Dec 1, 2012

On November 15, 2012, the Ontario Government filed O. Reg. 364/12 (the “Regulation”), which sets out the terms for the use of letters of credit (“LOC”) in Ontario.

As at November 30, 2012 - Impact on pension expense under international accounting

Dec 1, 2012

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

Ontario proposes changes to financial hardship unlocking program

Dec 1, 2012

The Ontario Ministry of Finance has released a summary of a proposed regulation to restructure the financial hardship unlocking program for locked‑in funds. The summary follows up on an announcement in the 2012 Ontario Budget.

New psychological health and safety workplace standard to be launched

Dec 1, 2012

Early in the new year, the National Standard of Canada for Psychological Health and Safety (PHS) in the workplace will be unveiled. Developed by the Mental Health Commission of Canada (MHCC) and in collaboration with CSA Standards (Canadian...