In light of the COVID-19 situation, pension regulators in the Atlantic provinces have made announcements relating to regulatory extensions and other matters.
On April 6, 2020, the Actuarial Standards Board of the Canadian Institute of Actuaries announced it would delay the adoption of its revised commuted value standards until December 1, 2020, at the earliest.
The OSFI has announced that it is implementing certain regulatory adjustments to support federally regulated banks, insurers and private pension plans in light of the extraordinary circumstance posed by the COVID-19 crisis.
Global News Calgary: Video interview with Paula Allen to discuss how the pandemic is affecting the mental health of Canadian workers.
The Mental Health Index provides a measure of the current mental health status of employed adults in a given geography, compared to the benchmarks collected in the years of 2017, 2018 and 2019.
A recent British Columbia case resulted in a finding that the owner and director of an employer was personally liable for breach of trust for failing to remit contributions to a multi-employer pension plan.
The evolution of the financial situation of pension plans since December 31, 2019
Every year, companies must establish an expense for their defined benefit pension plans.
Amid ongoing concern about the COVID-19 pandemic, Morneau Shepell continues to provide resources to our clients and to the general public to help deal with the impact of the virus.
On February 24, 2020, Nova Scotia amended its Pension Benefits Regulations (the Regulation) and announced that the changes in Bill 109 will become effective April 1, 2020.