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Normandin Beaudry

2014 Bulletins

NB Bulletin Vol. 17 N. 13, December 2014
Impact of tax measures announced by the Quebec government on group benefits plans

On December 2, 2014, in the Update on Québec's Economic and Financial Situation, the Quebec Government announced some tax measures that have an impact on group benefits plans and employers' contributions to the Health Services Fund.

NB Bulletin Vol. 17 N. 12, December 2014
Revenu Québec and its application of the Unclaimed Property Act

On April 1, 2006, the Curateur public transferred the administration of unclaimed financial property to Revenu Québec (RQ). Since then, RQ has been auditing pension plans to determine whether or not unclaimed property and penalties, if applicable, have been remitted. These audits target notably small amounts whose commuted value represents less than 20% of the Year's Maximum Pensionable Earnings (YMPE) for the year in which the member ceased to be an active member.

NB Bulletin Vol. 17 N. 11, December 2014
Group insurance plans in Quebec: new cost transfers from public to private plans

Last week, the Quebec government tabled Bill 28 (An Act mainly to implement certain provisions of the Budget Speech of 4 June 2014 and return to a balanced budget in 2015-2016). Some provisions of this bill will directly impact the cost of group insurance plans in Quebec. 

NB Bulletin Vol. 17 N. 10, October 2014
Rates for Health Care Professionals in 2014

During the summer of 2014, Normandin Beaudry conducted its 17th annual survey of fees charged by health care professionals in Quebec. Considering the fact that 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 17 N. 9, September 2014
Longevity insurance: a potential option for Canadian pension funds?

Without question, 2013 was a record year in Canada for group annuity purchases and many agree that 2014 is bound to set this record. Normandin Beaudry was very active for its clients in this market with insured annuity purchases accounting for about 20% of the total value of annuities purchased in 2013. 

NB Bulletin Vol. 17 N. 8, September 2014
Quebec salaries expected to increase by 2.9% in 2015

Normandin Beaudry’s annual survey on salary increases reveals that Quebec salaries are expected to increase by 2.9% in 2015. Salary structure increases remain stable with an average increase of 2.0%.

NB Bulletin Vol 17 N. 7, July 2014
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. 17 N. 6, June 2014
Investing in private debt and in mortgage debt

In spite of the 2013 rise in interest rates, the yield to maturity of Canadian bonds remains low. For instance, the Universe1 bond index’s annual yield to maturity as at April 30, 2014 was only at 2.5%.

NB bulletin Vol. 17 N. 5, May 2014
Residual benefits due to pension plan insolvency

On April 30, 2014, the Régie des rentes du Québec (the “Régie”) issued a Newsletter Express on the amounts payable following the settlement of benefits under a partially solvent defined benefit pension plan. This document confirms a change in the interpretation of rules that could have financial impacts for plan sponsors.

NB bulletin Vol. 17 N. 4, May 2014
Comply to make Ontario more accessible for persons with disabilities

In 2005, the Ontario government enacted the Accessibility for Ontarians with Disabilities Act, which aims to eliminate barriers that persons with physical or psychological limitations may face. This Act includes different standards that employers must comply with to create accessible workplaces that allow employees with disabilities to reach their full potential.

NB bulletin Vol. 17 N. 3, March 2014
Certain provisions relating to pay equity audits deemed unconstitutional

On January 22, 2014, the Quebec Superior Court handed down a ruling on a motion to repeal certain provisions of the Pay Equity Act.  The court rejected part of the motion, but declared sections 76.3 and 76.5 of the Pay Equity Act to be invalid and of no legal force or effect.     

NB Bulletin Vol. 17 N. 2, February 2014
2013 tax credit for medical expenses

For the 2013 tax year, a tax credit ranging from 4% to 20% of incurred medical expenses(1) could be granted to Canadian taxpayers. The credit is subject to certain conditions and depends on the province of residence.

NB Bulletin Vol. 17 N. 1, January 2014
2014 Social Security Programs Parameters

As in previous years, we inform you about the parameters that will be used by the major social security programs in 2014.