Nova Scotia is following in the footsteps of a number of other provinces by looking into its funding framework for defined benefit pension plans. Like most jurisdictions in Canada, Nova Scotia requires defined benefit plans to be valued and funded on both a going-concern and a solvency basis. Under the review, the province is considering […]
It has been a busy period for changes to public drug programs in Ontario, as the provincial government has been working on policies with the potential to offer savings to private benefits plans: pharmacare coverage for people under the age of 25 and upgrades to the Trillium drug program for people with high drug costs. […]
Ontario’s standing committee on finance and economic affairs has passed a number of amendments to a bill aimed at boosting the province’s workplace standards legislation, including two changes concerning leave related to domestic and sexual violence. If the legislature passes the amendments, Bill 148 will include a new section providing for domestic or sexual violence […]
New draft regulations published in Quebec this summer address policies around annuity purchases for defined benefit pension plans for the first time. Industry stakeholders have been expecting the province’s regulations, which are currently under consultation, since Jan. 1, 2016, when Quebec implemented legislative changes that replaced its solvency regime with enhanced going-concern funding rules and required […]
In the last few weeks, employees — both current and former — of troubled retailer Sears Canada Inc. have had plenty to worry about after the company announced plans to restructure and then asked for relief from fulfilling its retiree benefits obligations and making special payments to its pension plan as it cut off severance payments to […]
As Canada looks to legalize marijuana next year, many employers are still unsure about how to prepare for what happens when the legislation takes effect, according to a recent study by the Human Resources Professionals Association. In a recent survey of its members, it found 45 per cent of respondents don’t believe their workplace policies adequately address […]
A group of North American insurance associations is warning against any changes to the North American Free Trade Agreement that would endanger the benefits reaped from the treaty. “For insurers, NAFTA provided for the removal of ownership restrictions, allowing established companies to compete in each other’s markets based on customer service and reputation, not national origin,” […]