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 Ontario Regulations Provide Anticipated Funding Flexibility

Nov 6, 2012

On November 2, 2012, Regulation 329/12, amending Regulation 909 made pursuant to the Ontario Pension Benefits Act, R.S.O. 1990, as amended, was published on e-Laws.

Who determines the assumptions for pension plans?

Nov 1, 2012

How pension plans are valued impacts a plan sponsor’s cash contributions to the plan and the amount of pension expense reported in its financial statements.

Alberta introduces new pension act

Nov 1, 2012

The Alberta government has introduced Bill 10, the Employment Pension Plans Act, to replace its current pension legislation. Bill 10 closely follows British Columbia’s Bill 38, which was passed in June. Please see our News & Views article from...

As at October 31, 2012 - Tracking the funded status of pension plans

Nov 1, 2012

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

New Ontario regulations provide anticipated funding flexibility

Nov 1, 2012

Despite the prorogation of the Ontario Legislature on October 15th, the Cabinet is continuing to meet, and the regulations related to the long-awaited further round of solvency funding relief for Ontario-registered underfunded pension plans were...

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

Nov 1, 2012

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

Proposed mortality table and improvement scale will increase Canadian pension liabilities

Nov 1, 2012

Canadian pensioner mortality experience studies may result in a new mortality table and improvement scale that, if adopted in the actuarial standards of practice, will likely increase pension liabilities between 3% and 8% depending on the...

Buying annuities for defined benefit plans: Why not?

Nov 1, 2012

Defined benefit pension plans are currently looking for solutions to manage their risk. Oddly, buying annuities is seldom included in the strategies contemplated for this purpose.

Group benefit changes effective January 1, 2013

Nov 1, 2012

As the New Year approaches, it is a prudent time to reiterate two changes announced earlier in 2012 that may impact group benefit programs and will take effect January 1, 2013.