The new tax framework for cannabis products will include medical marijuana, according to the proposed excise duty framework published by the federal government on Friday. Advocates for medical marijuana, including Canadians for Fair Access to Medical Marijuana and the Arthritis Society, have stated that while they recognize and welcome continued consultations, they believe the plan hurts patients. “Applying any tax to […]
The Office of the Superintendent of Financial Institutions has laid out its progress on a number of pension responsibilities in its 2016-17 report on plans and priorities, published Friday. One area of progress is pooled retirement pension plans, notes the report. Since OSFI acquired new responsibilities under the PRPP multilateral agreement, which came into effect in June 2016, […]
iA Financial Group has appointed Denis Ricard as chief operating officer. In the new role, Ricard assumes full responsibility for all of the organization’s group and individual insurance operations in both Canada and the United States. These activities cover group benefits and retirement services, individual insurance and annuities, and special market risks. He’ll also be responsible for leading the company’s digital transformation strategy. Read: iA Financial Group […]
The Canada Pension Plan fund returned 2.5 per cent after all costs during the second quarter of fiscal 2018. It ended the second quarter with net assets of $328.2 billion, up from $326.5 billion at the end of the first quarter. The $1.7 billion net increase in assets for the quarter consisted of $2.3 billion in net income […]
The Reformulary Group Inc. has launched an app for its DrugFinder service that allows all Canadians to search the company’s curated list of medications. Previously only available to employees whose companies subscribed to the company’s formulary, the service allows users to find the cost, level of reimbursement and availability of any suitable alternative drugs. Read: Reformulary […]
The Canada Revenue Agency has announced an increase of $600 to the year’s maximum pensionable earnings under the Canada Pension Plan for 2018. Contributors who earn more than $55,900 in 2018 won’t be able to make additional contributions to the CPP. The threshold is up from $55,300 this year. The basic exemption amount remains at $3,500. […]
The OPSEU Pension Trust is divesting from all equity and fixed-income investments in public companies that derive a majority of their revenue from the production or manufacture of tobacco products beginning in 2018. “At OPTrust, we prefer to use corporate engagement — the promotion of better business practices — in our investment and ownership practices,” said Hugh O’Reilly, […]
Unionized employees at a Quebec-based aluminum smelter are rejecting a proposed change that would move them to a two-tiered pension arrangement from a defined benefit plan. The Syndicat des Métallos/United Steelworkers Local 9700 says employees at the Bécancour, Que., smelter “categorically reject a discriminatory, inferior pension plan for the next generation of workers.” The proposed change would keep defined benefit plans […]
Buoyed by rebounding Canadian equity returns, Canadian defined benefit pension plans posted returns of 0.4 per cent in the third quarter of 2017, marking the sixth straight quarter of growth, according to RBC Investor & Treasury Services. Canadian equities returned 3.8 per cent in the quarter, compared with minus 1.9 per cent in the second quarter […]
As Canada’s total health spend is expected to reach $242 billion by the end of 2017, the amount spent on drugs is expected to grow at the fastest pace, according to new figures by the Canadian Institute for Health Information. The total projected growth in health spending for 2017 is about four per cent, a slight increase on 2016. Since […]