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Normandin Beaudry

2010 Bulletins

NB Bulletin Vol. 13 N. 17, December 2010
Recent legislative changes to pension plans in Quebec

In the last year, Quebec's pay equity commission, the Commission de l'équité salariale (hereinafter, "Commission"), has made major efforts to educate and inform employers about their obligations under the Pay Equity Act (hereinafter, "Act") and the measures to be taken to fulfil them. The Commission, the Pay Equity Act and pay equity in general have also been covered extensively and continuously in the media over the last year and a half to inform the employees of their rights.

NB Bulletin Vol 13 N. 16, December 2010
Pay equity: the consequences of noncompliance

In the last year, Quebec's pay equity commission, the Commission de l'équité salariale (hereinafter, "Commission"), has made major efforts to educate and inform employers about their obligations under the Pay Equity Act (hereinafter, "Act") and the measures to be taken to fulfil them. The Commission, the Pay Equity Act and pay equity in general have also been covered extensively and continuously in the media over the last year and a half to inform the employees of their rights.

NB Bulletin Vol. 13 N. 15, December 2010
Accounting standards applicable to employee future benefits: measures that could impact future results

In a recent there in black in white bulletin entitled Accounting standards applicable to employee future benefits: what Quebec-based companies do, we shared the results of our analysis of the annual reports of Quebec-based companies to help companies select their assumptions for employee future benefits.

NB Bulletin Vol 13. N. 14, December 2010
Accounting standards applicable to employee future benefits: what Quebec-based companies do

Several private sector companies will soon be finalizing their budgets for the upcoming fiscal year and preparing their financial statements for the current fiscal year. Included among the accompanying notes that should be prepared for these financial statements are those pertaining to costs for defined benefit pension plans (DB plans) and for group insurance plans offered to retirees (other post-retirement benefits).

NB Bulletin Vol. 13 N. 13, November 2010
Interest rates continue to fall... again

Interest rates on long-term maturities have fallen substantially since the start of 2010. Despite the fact that the Bank of Canada began adjusting its overnight rate, long-term interest rates, which influence the value of actuarial liabilities, reached levels similar to those attained at the height of the financial crisis of 2008. This trend intensified in the third quarter of 2010.

NB Bulletin Vol. 13 N. 12, October 2010
Changes to funding rules for registered pension plans

The Canadian pension system has not undergone any major changes for several years. The system is founded on the model below:

NB Bulletin Vol. 13 N. 11, October 2010
Salary Projections and Trends for 2011

It is once again that time of year when the results of salary projection surveys are released. These projections continue to be an important source of information for guiding employers in determining their annual salary increase budgets.  

NB Bulletin Vol 13, N. 10, August 2010
Rates for Health Care Professionals in 2010

The average fees per visit could be useful in establishing the maximum amounts payable under your group insurance plans. Moreover, the average fee per visit increase compared to that of 2009 allows you to validate the inflation assumption used by your insurer in renewing your health premium rates.

NB Bulletin Vol. 13 N. 9, August 2010
Review of the institutional fund performances over the first semester of 2010

We are pleased to present our mid-year review analyzing the performance as at June 30, 2010, of institutional managers comprising the Normandin Beaudry Investment Funds Universe. The purpose of this review is to keep you up-to-date on the recent performance of financial markets and institutional managers. You will receive this review each year after the end of the first semester.

NB Bulletin Vol. 13 N. 8, July 2010
New funding rules applicable to pension plans of the municipal and university sectors adopted

The anticipated final version of the Regulation respecting the funding of pension plans of the municipal and university sectors was published in the July 7, 2010 edition of the Gazette officielle du Québec.

NB Bulletin Vol. 13. N. 7, July 2010
Investing in emerging markets

With low interest rates, disappointing stock market performances and only modest expected economic growth in developed countries, many institutional investors are looking for new sources of return.

NB Bulletin, Vol. 13 N. 6, June 2010
New Financial Parameters for the Quebec Prescription Drug Insurance Plan

The Régie de l'assurance maladie du Québec recently announced the new financial parameters that will apply to the public prescription drug insurance plan for the period of July 1st, 2010 to June 30, 2011. One of the provisions of Quebec's Act respecting prescription drug insurance provides for the revision of these parameters on July 1st each year to take into account the increase in plan costs. 

NB Bulletin Vol. 13 N. 5, June 2010
Potential cost savings with the arrival of generic drugs

Generic versions of many popular drugs will be hitting pharmacy shelves by 2013. The generic version of Lipitor (cholesterol pill), the best-selling drug in the world, was recently launched on the Canadian market. Apotex, a generic drug manufacturer, is the first to make the generic version available (Apo-Atorvastatin). Other generic drug manufacturers should follow suit. In fact, even Lipitor's manufacturer, Pfizer, announced that it will produce a generic equivalent of its best-selling drug.

NB Bulletin Vol. 13 N. 4, May 2010
Provincial budget's impact on group benefit plans

Following the lead of other Canadian provinces, Quebec imposes a 2% tax on insurance premiums. A compensation tax on financial institutions is also added to insurance premiums in Quebec.

NB Bulletin Vol. 13 N. 3, May 2010
Medical insurance mandatory for entering Cuba

Upon their arrival in Cuba, travellers must present proof that they have travel insurance that includes medical expense coverage in Cuba for the duration of their stay. Travel insurance policies underwritten by Canadian insurance companies are recognized by Cuban authorities. Travellers will need to present as proof either an insurance policy, insurance certificate or medical assistance card.

NB Bulletin Vol. 13 N. 2, March 2010
Non-refundable tax credits for medical expenses

Subject to certain eligibility criteria, a tax credit of between 4% and 20% of the incurred expenses can be granted to the taxpayer. It is important to note that, unlike some other tax credits, credits for medical expenses are non-refundable. Therefore, credits in excess of the amount of income tax to be paid are not reimbursed.

NB Bulletin Vol. 13 N. 1, January 2010
Draft Regulation respecting the funding of pension plans of the municipal and university sectors

New permanent financing rules came into effect in Quebec on January 1, 2010, for all pension plans ("Bill 30"). However, for municipal and university sector pension plans, a highly anticipated Draft Regulation was recently published in order to detail the application of Bill 30 as well as certain rules specific to these sectors.