The evolution of the financial situation of pension plans since December 31, 2018
On June 8, 2019, the FSRA assumed the regulatory duties of the FSCO in respect to pension plan regulation in Ontario, as well as the duties of other financial regulators.
Every year, companies must establish an expense for their defined benefit pension plans.
On June 17, 2019, the federal Minister of Finance tabled a Notice of Ways and Means Motion that would limit the availability of deductions with respect to shares issued under certain employee stock options granted starting January 1, 2020.
On July 3, 2019, a draft regulation amending the Regulation respecting supplemental pension plans was published in the Gazette officielle du Québec.
In May 2019 the federal Department of Finance released draft legislation with respect to employee life and health trusts (ELHTs).
On May 28, 2019, the Financial Services Commission of Ontario (FSCO) released a new Form 4.2 and published a Frequently Asked Questions document (FAQ) on non-residency unlocking from a registered pension plan for Ontario members.
Effective May 30, 2019, British Columbia employment standards legislation has been amended to introduce critical illness or injury leave and domestic or sexual violence leave.
On May 21, 2019, the government of Ontario filed O. Reg. 105/19, which makes some clarifications, technical corrections and adjustments in the new funding framework for defined benefit (DB) pension plans that took effect on May 1, 2018.
On May 8, 2019, the Canadian Association of Pension Supervisory Authorities (CAPSA) released the revised Guideline No. 2 – Electronic Communications in the Pension Industry (the Guideline).