budget – Benefits Canada.com

Ontario’s budget proposing framework for target-benefit pension plans

bwolfe — Fri, 29 Apr 2022 13:00:21 +0000

In its 2022 budget on Thursday, the Ontario government said it’s implementing a permanent target-benefit pension plan framework in 2023. The budget noted specified Ontario multi-employer pension plans, which provide these types of benefits, have been operating under temporary regulations that will expire in 2024 unless replaced by a permanent framework. “A permanent target-benefit framework […]

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What’s in the federal budget for DB pension plans, institutional investors?

Gideon Scanlon — Tue, 12 Apr 2022 17:00:00 +0000

The federal government’s 2022 budget is addressing long-standing rules preventing defined benefit plan sponsors from borrowing in most circumstances. In the $56-billion budget, which is expected to easily pass into law with the support of Liberal and New Democratic Party members of parliament, proposes providing more borrowing flexibility to administrators of registered DB plans. The […]

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What’s in the federal budget for employers, employees?

Jennifer Paterson — Fri, 08 Apr 2022 13:00:09 +0000

The federal government’s 2022 budget, which set out $56 billion in new spending on Thursday, has a few offerings that could impact employers and employees. Dental-care program, pharmacare The budget confirmed the government’s commitment to rolling out a national dental-care program, which was announced in March, by specifying a $5.3-billion investment in its implementation. It also […]

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Pharmacoeconomic analyses a tool in private-payer decision-making process

mschmit — Fri, 15 Jan 2021 04:56:43 +0000

A recent Telus Health comparison of a drug’s cost effectiveness when calculated from the private versus the public-payer perspective demonstrated clearly that the private-payer perspective matters when assessing the value of a medication, explained Dr Nina Lathia, pharmacist, and health economist, at Benefits Canada’s Face to Face Drug Plan Management Forum on Dec. 9, 2020. […]

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Ontario’s 2020 budget highlights employer health tax, pension reviews

mschmit — Fri, 06 Nov 2020 04:45:18 +0000

In its 2020 budget on Thursday, the Ontario government said it plans to permanently extend the employer health tax payroll exemption from $490,000 to $1 million. The change is expected to save Ontario employers about $360 million in 2021/22 as they endure the economic impact of the coronavirus pandemic. “When the COVID-19 outbreak struck Ontario, the […]

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Bank of Canada survey says business hiring plans remain muted due to pandemic

mschmit — Tue, 07 Jul 2020 04:25:04 +0000

The Bank of Canada’s latest review of business and consumer expectations has revealed how widespread uncertainty is muting rehiring and purchasing plans, published days before a federal update gives the Liberals’ outlook for the economy. The central bank’s business outlook survey suggested about half of firms foresee a rebound in their sales within the next […]

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Federal government halting changes to employee stock options

mschmit — Fri, 20 Dec 2019 11:30:22 +0000

The federal government is putting a pin in its changes to employee stock options, which were supposed to take effect on Jan. 1. In a news release, the federal finance ministry said it’s reviewing feedback from consultations on the proposed changes and will announce its path forward and a new implementation date in its 2020 budget. The proposed changes, […]

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Alberta budget announces fund transfers to AIMCo for management

mschmit — Wed, 30 Oct 2019 05:58:24 +0000

The Alberta Teachers’ Retirement Fund Board will transfer all of its funds to the Alberta Investment Management Corp. for management, according to the province’s latest budget. The ATRF board, which administers pensions for all teachers in Alberta school jurisdictions and charter schools, said in a press release it was only made aware of the change […]

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Budget’s stock options proposals could have consequences for employers

mschmit — Mon, 01 Apr 2019 05:00:04 +0000

The federal government’s 2019 budget proposed changes that could affect the viability and attractiveness of stock options as a recruitment and retention tool for certain employers even as it gives these employers a tax break for shares issued pursuant to these options. On the one hand, the budget proposed imposing an annual cap of $200,000 […]

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Incorrect pension accounting significantly understates Ontario deficits: auditor general

mschmit — Thu, 26 Apr 2018 05:49:51 +0000

As Ontarians prepare for the upcoming provincial election campaign, the province’s auditor general is raising the stakes in her dispute with the government about its accounting treatment of two of its biggest public pension plans. On Wednesday, auditor general Bonnie Lysyk released her report into the government’s budget projections ahead of the June election. In […]

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