federal budget – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 03 May 2024 21:03:19 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 How will crypto disclosure rules impact federally regulated pension plans? https://www.benefitscanada.com/pensions/governance-law/how-will-crypto-disclosure-rules-impact-federally-regulated-pension-plans/ Thu, 20 Apr 2023 13:00:58 +0000 https://www.benefitscanada.com/?p=136812 In its 2023 budget, the federal government announced plans to require that federally regulated pension plan sponsors disclose their cryptocurrency asset exposure to the Office of the Superintendent of Financial Institutions. The government has yet to announce how the pension disclosure requirements will be implemented. “Just how these guidelines will affect standards of governance or regulatory […]

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]]> Canada Growth Fund emphasizing ‘over-hyped’ transition technologies, says watchdog https://www.benefitscanada.com/pensions/governance-law/canada-growth-fund-emphasizing-over-hyped-transition-technologies-says-watchdog/ Tue, 04 Apr 2023 16:30:23 +0000 https://www.benefitscanada.com/?p=136029 A watchdog organization is criticizing a government fund dedicated to attracting investments in green technologies. “The government seems to be saying this is concessional finance,” says Adam Scott, executive director of Shift Action for Pension Wealth and Planet Health. “The goal [of the Canada Growth Fund] is to put the first money into higher risk investments […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-30/ Fri, 31 Mar 2023 13:00:30 +0000 https://www.benefitscanada.com/?p=135909 An article on a 2023 budget proposal to require employers to report dental coverage as part of the national dental-care program was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Enhanced national dental plan to require reporting of employer-provided coverage: budget 2. CAAT raising DBplus […]

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]]> What’s in the federal budget for DB pension plans, institutional investors? https://www.benefitscanada.com/canadian-investment-review/cir-news/whats-in-the-federal-budget-for-db-pension-plans-institutional-investors-2/ Thu, 30 Mar 2023 16:00:20 +0000 https://www.benefitscanada.com/?p=135861 The 2023 federal budget, which was announced on Tuesday, includes several initiatives related to defined benefit pension plans and the broader institutional investment sector. The government said it would entrust the administration of a new federal investment fund to the Public Sector Pension Investment Board. “By partnering with PSP Investments, the Canada Growth Fund will […]

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]]> Coalition seeking to bring employee ownership trusts to Canada https://www.benefitscanada.com/news/bencan/coalition-seeking-to-bring-employee-ownership-trusts-to-canada/ Fri, 10 Feb 2023 14:00:40 +0000 https://www.benefitscanada.com/?p=133718 The Canadian Employee Ownership Coalition is urging the federal government to introduce an employee ownership trust in the next federal budget and to remove tax barriers to employee ownership by adopting the U.K.’s approach to a capital gains tax exemption. The federal government pledged to study the barriers to employee ownership in its 2021 budget and committed […]

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]]> Feds’ proposed change to METC could expand workplace coverage of fertility services https://www.benefitscanada.com/benefits/health-benefits/feds-proposed-change-to-metc-could-expand-workplace-coverage-of-fertility-services/ Mon, 25 Apr 2022 13:00:35 +0000 https://www.benefitscanada.com/?p=120016 With the federal government’s 2022 budget proposing to allow expenses related to fertility and surrogacy to be claimed by a wider range of individuals under the medical expense tax credit, will the move lead to increased coverage under workplace benefits plans? The government’s proposal would expand the definition of a patient to include the taxpayer, […]

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]]> CLHIA calling for increased access to VPLAs, prescription drugs https://www.benefitscanada.com/pensions/governance-law/clhia-calling-for-increased-access-to-vplas-prescription-drugs/ Mon, 09 Aug 2021 19:00:32 +0000 https://www.benefitscanada.com/?p=105272 The Canadian Life and Health Insurance Association is calling on the federal government to permit standalone variable payment life annuities to pool participants from all registered retirement plans. In its 2022 federal budget submission, the CLHIA said VPLAs, as enacted, will only be available to members of very large defined contribution pension plans, excluding Canadians […]

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]]> CFIB, Unifor clashing over proposed $15 federal minimum wage https://www.benefitscanada.com/human-resources/hr-other/cfib-unifor-clashing-over-proposed-15-federal-minimum-wage/ Fri, 14 May 2021 19:00:47 +0000 https://www.benefitscanada.com/?p=100547 The head of the country’s largest private sector union says Parliament should raise the federal minimum wage to $15 per hour and possibly put future increases into the hands of an independent commission. Unifor president Jerry Dias says an independent commission could be comprised of key stakeholders to research the effects of minimum wage policy […]

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]]> Pharmacare should include high-cost treatment strategy, flexibility for plan sponsors: consultant https://www.benefitscanada.com/news/bencan/pharmacare-should-include-high-cost-treatment-strategy-flexibility-for-plan-sponsors-consultant/ Thu, 22 Apr 2021 13:00:27 +0000 https://www.benefitscanada.com/?p=99002 While a national pharmacare program is yet to be revealed by the federal government, any future plan should contain provisions for all costly treatments and not just rare diseases, says Jennifer Schmidt, a principal at Mercer Canada. Read: Federal budget highlights national childcare system, extension of pandemic subsidies This week’s federal budget announcement contained only […]

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]]> Federal budget fails to support pension reform, says retiree group, politicians https://www.benefitscanada.com/news/bencan/federal-budget-fails-to-support-pension-reform-retiree-group-politicians/ Wed, 21 Apr 2021 19:00:38 +0000 https://www.benefitscanada.com/?p=98932 The Canadian Federation of Pensioners is calling for amendments to federal insolvency laws to protect members of defined benefit pensions if the employer is insolvent. The federation, which represents 23 retiree groups with a total of about 300,000 members, renewed its call for legislative changes after the federal budget failed to mention the issue on […]

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