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...
On July 25, 2012, the federal government published proposed regulations for the Pooled Registered Pension Plans Act (PRPP).
This graph shows the changes in the financial position of a typical defined benefit plan since December 31, 2007.
On July 30, 2012, the Ontario Ministry of Finance released a summary of the proposed regulations for letters of credit (LOCs) applicable to pension plans.
Every year, companies must establish an expense for their defined benefit pension plans.
The Financial Services Commission of Ontario (“FSCO”) has also issued some summaries of the changes on its Web site.
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