Effective July 20, 2012, the Ontario Government has again extended temporary solvency funding relief for Specified Ontario Multi-Employer Pension Plans (SOMEPPs).
On July 25, 2012, the federal government published proposed regulations for the Pooled Registered Pension Plans Act (PRPP).
On July 13, 2012, the Canadian Association of Pension Supervisory Authorities (CAPSA) released a draft Defined Contribution Pension Plans Guideline (the “Draft Guideline”) for comment.
This graph shows the changes in the financial position of a typical defined benefit plan since December 31, 2007.
In July 2012, the Office of the Superintendant of Financial Institutions (OSFI) adopted and published an Instruction Guide setting out factors and specific requirements that OSFI considers when reviewing an application seeking the Superintendent’s...
The Ontario Government has issued a regulation extending the deadline for submitting a valuation report to December 31, 2012.
The Regulation providing temporary relief measures for the funding of solvency deficiencies was released on May 30, 2012. It came into force on June 14, 2012, and has effect retroactively to December 31, 2011.
On June 12, 2012, Quebec tabled Bill 80, entitled An Act respecting voluntary retirement savings plans.
The Evolution of the Financial Situation of Pension Plans since December 31, 2007
Individual Pension Plans (IPPs) have long been viewed by advisors as more advantageous than Registered Retirement Savings Plans (RRSPs).