Update: CRA newsletter on annuity purchases from pension plans
Sep 21, 2020On July 24, 2020, the Registered Plans Directorate of the Canada Revenue Agency (CRA) released Newsletter 20-1 on the topic of buy-out annuity contracts and, in particular, the question of what constitutes a “material difference” between an...
Newfoundland consultation on unlocking of pension benefits for financial hardship
Sep 21, 2020On July 29, 2020, the Newfoundland and Labrador (NL) government announced that it was considering amendments to the Pension Benefits Act regarding the unlocking of pension benefits for situations of financial hardship.
Tracking the funded status of pension plans as at August 31, 2020
Sep 21, 2020The evolution of the financial situation of pension plans since December 31, 2019
Gen X, front-line workers feeling less safe at work
Sep 15, 2020HR Reporter: Forty per cent of front-line workers feel pressured to go into work during COVID-19, found a survey.
Online therapists are helping workers cope with COVID-19 anxiety
Sep 13, 2020Human Resources Director Magazine: While the COVID-19 outbreak continues to affect the mental health of Canadians, leaders in the public and private sectors are turning to digital tools to help address its impact.
Impact on pension expense under international accounting as at July 31, 2020
Aug 24, 2020Every year, companies must establish an expense for their defined benefit pension plans.
Quebec publishes draft regulation to provide temporary COVID-19 relief measures for pension plans
Aug 24, 2020The draft regulation titled “Regulation respecting measures related to supplemental pension plans to reduce the consequences of the public health emergency declared on 13 March 2020 due to the COVID-19 pandemic” was published on July 15, 2020 in...
Ontario COVID-19 deemed leave of absence raises pension issues
Aug 24, 2020On May 29, 2020, the Government of Ontario enacted O. Reg 228/20: Infectious Disease Emergency Leave (the Regulation) which expanded the scope of the Infectious Disease Emergency Leave under the Employment Standards Act, 2000 (the ESA).
Ontario introduces forms for DC plans offering variable benefits
Aug 24, 2020The Financial Services Regulatory Authority of Ontario (FSRA) has introduced various variable benefit forms, which will enable Ontario members of defined contribution (DC) plans and their spouses to access variable benefits and access various...
Supreme Court of Canada orders repayment of pension benefits made in error
Aug 24, 2020The Supreme Court of Canada has ruled in Threlfall v. Carleton University that a Quebec woman must repay nearly half a million dollars she had collected on behalf of a missing member of the Carleton University pension plan while the member was...