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Copyright_Mikhail Tsikhanovich_123RF

Five years after Ontario’s auditor general uncovered an issue with the way the province was including pension assets in its financial statements, the office is proposing changes related to accounting in defined benefit pension plans. The auditor general’s 2016 annual report revealed a deficit of $5 billion, while the province’s government set the deficit at […]

  • By: Staff
  • December 3, 2021 December 13, 2021
  • 15:00
144436607-123RF

Ontario is extending a temporary paid sick leave program for workers until the end of this year. Labour Minister Monte McNaughton announced that the coronavirus pandemic program set to expire on Sept. 25 will be extended to Dec. 31, 2021. He said the spread of the more transmissible Delta variant prompted the move to give more […]

Copyright_leungchopan_123RF

While the withdrawal of provincially-insured eye services by Ontario optometrists is unlikely to have a direct impact on benefits plans, it could cause a “trickle-down effect,” according to Kim Siddall, vice-president of enterprise consulting for the west at People Corporation. “Given that under Ontario law, insurers can’t cover the cost of the eye exams which were […]

Copyright_Olga Yastremska_123RF

The Financial Services Regulatory Authority of Ontario is seeking feedback on proposed guidance detailing how and when it publishes information about enforcement proceedings and investigations, including those related to pension plans and administrators. According to the draft guidance, this includes the use of news releases and public postings of enforcement actions on the FSRA’s website […]

  • By: Staff
  • August 13, 2021 August 12, 2021
  • 09:05
Copyright_Mikhail Tsikhanovich_123RF

The Financial Services Regulatory Authority of Ontario is releasing final interpretation guidance to support the role and responsibilities of pension plan administrators. The guidance, an updated and consolidated version of four previous documents, said the administrator’s role includes responsibility for implementing processes to ensure pension plan risks — such as investment, funding, operational and legal — […]

  • By: Staff
  • July 30, 2021 July 29, 2021
  • 09:00

The Association of Canadian Pension Management is calling for increased clarity regarding Ontario’s rules for the valuation and division of pension payments following a marriage breakdown. In response to a consultation by the Financial Services Regulatory Authority of Ontario, the ACPM recommended the draft guidance document include an example of an exception to the rule […]

  • By: Staff
  • May 12, 2021 May 13, 2021
  • 09:00
Copyright_Mikhail Tsikhanovich_123RF

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 […]

Copyright_olegdudko_123RF

Alberta will begin offering coronavirus vaccines to thousands of meat-packing employees across the province starting this week, but a union leader says some workers are reluctant to receive a shot from the government or an employer they don’t trust. The provincial government says starting Tuesday, vaccines will be offered to more than 15,000 workers at 136 […]

Copyright_Serhii Radachynskyi_123RF

The end of the coronavirus pandemic won’t mean the end of people struggling with mental-issues due to the prolonged public-health crisis, according to the Canadian Mental Health Association. The poll found only 35 per cent of Ontarians consider their mental health to be “very good” or “excellent,” compared to 52 per cent in the first round of polling in May […]

The Association of Canadian Pension Management is calling on the Ontario government to consider amending the Employment Standards Act and the Pension Benefits Act to allow for auto-enrolment and auto-escalation features in capital accumulation plans. Specifically, it would like the government to allow employers to automatically deduct employee contributions from payroll to facilitate these features. […]

  • By: Staff
  • July 20, 2020 December 7, 2021
  • 09:22