The head of the Bank of Nova Scotia is urging Ottawa to top up the annual Canada Child Benefit and increase childcare expense deductions, ahead of the federal budget announcement slated for April 19. During the bank’s annual general meeting on April 13, Brian Porter, chief executive officer of Scotiabank, said he wants the benefit […]
In its 2019 budget on Tuesday, the federal government announced a number of proposals regarding pension protections, off the back of recent high-profile corporate bankruptcies that have thrown the sustainability of some Canadians’ defined benefit plans into doubt during the past few years. Indeed, the federal government received 4,400 submissions in response to its request for comment on the […]
The Canadian Association of Retired Persons is calling out the federal government, saying it’s unfair the pensions of Sears Holding Corp.’s American employees will be protected by the U.S.’s Pension Benefit Guaranty Corp. while Canadian employees will see benefits cuts. The Canadian operation has been under court-ordered liquidation since June 2017, and Ontario’s superintendent of financial services ordered […]
Among the changes announced in Wednesday’s budget that affect employers is a plan to revamp the rules around unpaid internships and introduce a right to request flexible work. In its budget, the federal government announced it would give federally regulated workers the right to request flexible work arrangements, such as working from home or adjusting their workday, from their […]
Pooled registered pension plans (PRPPs) are coming, and many will say not a moment too soon given that only one in three private sector worker is currently participating in a registered pension plan or group RRSP. The hope is that PRPPs will dramatically improve pension coverage thus relieving public pressure to expand the Canada/Quebec Pension […]