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.
On Thursday, October 18, 2012, the federal government introduced an omnibus budget legislation known as Bill C-45.
The Biggest Stories of The Quarter With Significant Ongoing Impact
Canadian employers expect salaries to rise by an average of 2.6% in 2013, according to Morneau Shepell’s annual Compensation Survey.
Following its meeting on September 5-6, 2012, the Canadian Accounting Standards Board (AcSB) will extend again the existing deferral of the mandatory IFRS changeover date for entities with qualifying rate-regulated activities.
Alberta has enacted regulations to provide temporary solvency funding relief. The regulations, which were adopted on September 19, 2012, apply to defined benefit pension plans registered in Alberta other than specified multi-employer pension plans.
This graph shows the changes in the financial position of a typical defined benefit plan since December 31, 2007.
At retirement, people can transfer their RRSP balance to a RRIF or they can buy an annuity.
Every year, companies must establish an expense for their defined benefit pension plans.
The U.S. presidential election is a highly anticipated event that garners much of the public’s attention. Major news outlets put huge efforts into reporting, discussing and debating the merits of the candidates, parties and policies put forth.