Nova Scotia is allowing residents to apply directly to their financial institution to access their retirement savings when facing financial challenges. Under amendments to provincial pension legislation effective July 1, a person may be approved to access part of a locked-in retirement account or life income fund if they expect less than $41,067 in income […]
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 […]
Employees affected by the coronavirus in British Columbia will qualify for up to three days of paid sick leave under proposed legislation that Premier John Horgan expects will plug holes in a federal plan and lay the groundwork for a permanent program. Horgan says the program will bridge the gap for workers between the time they first feel […]
Tucked away in the federal budget are proposals that will lighten the load for defined contribution pension plan administrators confronted with historical under and over contributions. “These errors are usually inadvertent system or software issues or new regulatory guidance or rulings that have retroactive effect,” says Mark Firman, a pensions and benefits lawyer with Stikeman […]
While the debate over paid sick days intensifies across Canada, only two provinces currently offer this benefit on a permanent basis. On April 30, Ontario passed a three-day sick leave policy — to be administered through the Workplace Insurance and Safety Board — retroactive to April 19 and ending on Sept. 25. Employers will be […]
Workers in Ontario will soon be able access three paid sick days to help them self-isolate during the coronavirus pandemic, but critics said the policy announced April 28 falls far short of what’s required to curb the spread of the coronavirus. Ontario Premier Doug Ford’s government had for months resisted intense pressure from health experts and advocates […]
The federal government’s recent budget confirmed its intention to proceed with the new stock option regime previously announced in its November 30, 2020, economic statement — meaning the proposed changes will likely come into force on July 1, as planned. As currently drafted, the changes impose an annual cap of $200,000 on employee stock options […]
Alberta recently joined a growing list of provinces and territories that are amending legislation to introduce paid time off for workers who wish to get the coronavirus vaccine. The legislation, which took effect on April 21, ensures all employees in Alberta are now eligible for up to three hours of paid time off to get […]
The New Brunswick government is expanding the use of biosimilars for certain chronic conditions in its public drug plans. Approximately 3,000 beneficiaries of the province’s drug plans who are living with diseases such as inflammatory arthritis, inflammatory bowel disease, diabetes and psoriasis will have until Nov. 30 to switch from a biologic to the biosimilar […]
Amid mounting pressure from both the public and private sectors for an action plan that provides affordable childcare for Canadian working parents, on Monday, the federal government unveiled its 2021 budget proposal for a national community-based childcare system. Once partisan policy, many business and union leaders have been aligned on the issue of affordable childcare in […]