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Normandin Beaudry

2013 Bulletins

NB Bulletin Vol. 16 N. 20, January 2014
Quebec government action plan for pension plan sustainability

On December 12, the Quebec government unveiled its action plan for ensuring the sustainability of pension plans and protecting defined benefit pension plans (DB plans).

NB Bulletin Vol. 16 N. 19, December 2013
Voluntary retirement savings plans (VRSPs): it’s a go!

Bill 39, An act respecting voluntary retirement savings plans, has been adopted on December 3rd. This new act will force employers with five or more employees to offer a retirement savings plan as of July 1, 2014.

NB Bulletin Vol. 16 N. 18, December 2013
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. These must include the recognition of the promises for defined benefit pension plans (DB plans) and for group insurance plans offered to retirees (other post-retirement benefits).

NB Bulletin Vol. 16 N. 17, November 2013
Regulation extending relief measures for private sector plans to 2014-2015 passed

The Quebec government recently confirmed that private pension plan funding relief measures will be extended to 2014 and 2015. 

NB Bulletin Vol. 16 N. 16, November 2013
Investments in emerging markets, still attractive?

Since the financial crisis of 2008, bond interest rates and economic growth forecasts for developed markets have declined dramatically. As a result, many investors turned to emerging market equities and bonds in search of higher expected returns.  
 

NB Bulletin Vol. 16 N. 15, November 2013
Quebec survey on salary increases

2013-2014 highlights

 

In the summer of 2013, Normandin Beaudry invited Quebec organizations to participate in the third edition of its salary increase survey.

 

A total of 123 organizations representing more than 280 000 employees completed the survey, allowing us to build a reliable, information-rich database that reflects the realities of Quebec. Data collected was analyzed by Normandin Beaudry’s compensation specialists so as to identify labour market trends and present salary forecasts for 2014 that reflect the economic conditions specific to Quebec.

NB Bulletin Vol. 16 N. 14, September 2013
Rates for Health Care Professionals in 2013

During the summer of 2013, Normandin Beaudry conducted its 16th annual survey of fees charged by health care professionals in Quebec.  Because health care services provided by these specialists are typically covered by group benefits plans, we believe that the results presented below will be of interest to you. 

NB Bulletin Vol. 16 N. 13, August 2013
Institutional Investment Fund Performance

Below are the highlights from our mid-year review analyzing the performance as at June 30, 2013, of the institutional managers comprising the Normandin Beaudry Investment Funds Universe.

NB Bulletin Vol 16 N. 12, July 2013
Draft Regulation Extending Relief Measures to 2014 and 2015 – Private Sector

On July 10, 2013, the Quebec government published a draft regulation to extend until December 31, 2015, relief measures applicable to private sector1 defined benefit pension plans. These measures will provide answers to sponsors’ questions concerning funding contributions required for 2014 and 2015.

NB Bulletin Vol 16 N. 11, July 2013
New Financial Parameters for the Quebec Prescription Drug Insurance Plan

On July 1 each year, the Régie de l’assurance maladie du Québec adjusts the financial parameters applicable to the public prescription drug insurance plan to take into account the increase or decrease in plan costs.

NB bulletin Vol. 16 N. 10, June 2013
Health and dental care insurance offered to employees on extended disability: trends observed

In 2012, we surveyed 90 Quebec and Canadian organizations on practices concerning health and dental care coverage offered to employees on extended disability leave. Below is a summary of the main findings concerning the maintenance or termination of coverage, followed by a comparison of practices against minimum legal requirements.

NB bulletin Vol. 16 N. 9, June 2013
Rethinking the role of retirement savings

The Expert Committee's report from every angle. A series of bulletins to enlighten you.

 

Out of the 21 recommendations issued by the Expert Committee on the Future of the Quebec Retirement System (the “Committee”), chaired by Mr. Alban D’Amours, four are related to retirement savings plans other than defined benefit plans. The goal of these recommendations is to help workers save more for retirement and to make the Quebec retirement system more effective.

 

Many workers who do not have access to a defined benefit pension plan offered by their employer must rely more on retirement savings plans and their personal savings to ensure their financial security at retirement.

 

This information bulletin focuses on the recommendations related to retirement savings plans.

NB bulletin Vol. 16 N. 8, June 2013
The audit program of the Commission de l’équité salariale: what employers should know

As set out in its strategic plan for 2009-2014, the Commission de l’équité salariale (“the Commission”) has implemented an audit program intended to ensure the application of the Pay Equity Act (“the Act”) by Quebec employers subject to it.

NB Bulletin Vol. 16 N. 7, June 2013
Amendments to accounting standards applicable to employee future benefits

The Accounting Standards Board (AcSB) recently approved the final standards on employee future benefits that apply to private enterprises (Part II of the Canadian Institute of Chartered Accountants (CICA) Handbook). Section 3461 will be replaced by Section 3462 for fiscal years beginning on or after January 1, 2014.

NB Bulletin Vol. 16 N. 6, May 2013
A more flexible legislative framework

The Expert Committee's report from every angle. A series of bulletins to enlighten you.

Of the 21 recommendations issued by the Expert Committee on the Future of the Quebec Retirement System (the “Committee”), chaired by Mr. Alban D’Amours, almost half aim to make the legislative framework applicable to supplemental pension plans more flexible in order to better govern and manage defined benefit pension plans.

NB Bulletin Vol. 16 N. 5, may 2013
Voluntary retirement savings plans (VRSPs): take 2!

The new Bill 39, An act respecting voluntary retirement savings plans, confirms the political will to give birth to this new type of plan. Hence, this Bill will force employers with five or more employees to offer a retirement savings plan as of January 1, 2014.

NB Bulletin Vol. 16 N. 4, may 2013
The Longevity Pension from Every Angle

The Expert Committee's report from every angle. A series of bulletins to enlighten you.

 

The Expert Committee on the Future of the Quebec Retirement System, chaired by Alban D’Amours, released its report on April 17, 2013. Among the Committee’s 21 recommendations is an innovative measure that has created quite a buzz, the longevity pension. This bulletin explains this new pension.

NB Bulletin Vol. 16 N. 3, May 2013
Return to Financial Reality

The Expert Committee's report from every angle. A series of bulletins to enlighten you.

 

In its report Innovating for a Sustainable Retirement System released on April 17, 2013, the Expert Committee on the Future of the Québec Retirement System (the “Committee”), chaired by Alban D’Amours, issued 21 recommendations including recommendations concerning new funding rules that would apply to defined benefit pension plans that fall under the supervision of the Régie des rentes du Québec. This information bulletin focuses on these recommendations.

NB Bulletin Vol. 16 N. 2, April 2013
Report by the Committee of Experts on the Future of the Quebec Retirement System

The Expert Committee's report from every angle. A series of bulletins to enlighten you.

 

Yesterday, the committee of experts on the future of the Quebec retirement system, chaired by Alban D’Amours, released its report. In the coming weeks, a series of four communiqués will present the key recommendations in greater detail. 

In the interim, this is an overview of the key aspects of this report.

NB Bulletin Vol. 16 N. 1, March 2013
2012 tax credit for medical expenses

For 2012, a tax credit varying from 4% to 20% of incurred expenses can be granted to Canadian taxpayers(1) depending on their province of residence and subject to certain conditions.