NB Bulletin Vol. 19 N. 16, September 2016 2016-2017 survey on salary increasesNB Bulletin Vol. 19 N. 15, August 2016
The annual Salary Increases Survey, conducted by Normandin Beaudry, reveals that Quebec salaries are expected to increase by 2.8% in 2017. Salary structures are expected to increase by an average of 1.8%.
Review of the solvency funding framework for defined benefit pension plans in OntarioNB Bulletin Vol. 19 N. 14, August 2016
On July 26, 2016, the Ontario government released a consultation paper entitled "Review of Ontario's Solvency Funding Framework for Defined Benefit Pension Plans," targeted at sponsors of single employer pension plans. This bulletin summarizes the approaches and options proposed during the course of these consultations. Interested parties have until September 30, 2016 to submit their comments.
Enhancing your bond portfolio with the liquidity premiumNB Bulletin Vol. 19 N. 13, July 2016NB Bulletin Vol. 19 N. 12, June 2016NB Bulletin Vol. 19 N. 11, June 2016NB Bulletin Vol. 19 N. 10, April 2016NB Bulletin Vol. 19 N. 9, April 2016NB Bulletin Vol. 19 N. 7, March 2016NB Bulletin Vol. 19 N. 5, February 2016
In recent years, Canadian investors have seen interest rates fall dramatically. The rate for 10-year federal bonds fell from 6% at the beginning of the 2000s to under 1% in the 3rd quarter of 2016. This decrease allowed investors to generate good returns. However, the future prospects for traditional bonds are now poor.
2015 tax credit for medical expensesNB Bulletin Vol. 18 N. 12, September 2015
For the 2015 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 or territory of residence.
Quebec survey on salary increasesNB Bulletins Vol. 18 N. 11, August 2015
Normandin Beaudry's annual survey on salary increases reveals that Quebec salaries are expected to increase by 2.7% in 2016. Salary structures are expected to increase by an average of 1.8%.
Ontario Retirement Pension Plan (ORPP): comparable plans definedNB Bulletins Vol. 18 N. 10, July 2015NB Bulletins Vol. 18 N. 9, June 2015
On August 11, 2015, Ontario Premier Kathleen Wynne announced additional details on the Ontario Retirement Pension Plan (ORPP), including what defines a comparable workplace pension plan. The ORPP is a new Ontario pension plan aimed at helping working Ontarians who do not have a workplace pension plan.
Bill 57NB Bulletins Vol. 18 N. 8, June 2015
After the bill on the funding of municipal pension plans was assented to last December, the National Assembly continued its work, introducing An Act to amend the Supplemental Pension Plans Act mainly with respect to the funding of defined benefit pension plans (Bill 57) on June 11, 2015.
Ontario pension plans: Overview of recent changes to legislationNB Bulletins Vol. 18 N. 7, June 2015NB Bulletins Vol. 18 N. 6, may 2015
Over the last year, several legislative changes have impacted pension plans registered with the Financial Services Commission of Ontario (FSCO). The purpose of this information bulletin is to present the key legislative amendments that recently came into effect in Ontario. It also aims to summarize the bills and regulations that should be introduced in the near future.
Bill 28 passed - implications for group benefits plansNB Bulletin Vol. 18 N. 5, April 2015NB Bulletin Vol. 18 N. 4, April 2015
The National Assembly passed Bill 28 on April 20, 2015. This bill includes a host of budget measures and numerous changes to different laws. Several of the measures announced impact directly or indirectly group benefits plans.
Ontario Retirement Pension Plan (ORPP)NB Bulletin Vol. 18 N. 3, March 2015NB Bulletin Vol. 18 N. 2, February 2015
Public consultations on Bill 56, An Act to require the establishment of the Ontario Retirement Pension Plan (ORPP), were recently held and ended in late March 2015. The purpose of this major bill is to create an additional savings instrument that will strengthen the current retirement income system for working Ontarians.
2014 tax credit for medical expensesNB Bulletin Vol. 18 N. 1, January 2015NB Bulletin Vol. 17 N. 13, December 2014NB Bulletin Vol. 17 N. 12, December 2014
For the 2014 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.
Revenu Québec and its application of the Unclaimed Property ActNB Bulletin Vol. 17 N. 11, December 2014NB Bulletin Vol. 17 N. 10, October 2014
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.
Rates for Health Care Professionals in 2014NB Bulletin Vol. 17 N. 8, September 2014NB Bulletin Vol 17 N. 7, July 2014NB bulletin Vol. 17 N. 5, May 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.
Residual benefits due to pension plan insolvencyNB bulletin Vol. 17 N. 4, May 2014
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.
Comply to make Ontario more accessible for persons with disabilitiesNB bulletin Vol. 17 N. 3, March 2014NB Bulletin Vol. 15 N. 7, June 2012
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.
Prescription Drug Insurance: RAMQ Position UpdateNB Bulletin Vol. 15 N. 6, April 2012NB Bulletin Vol. 15 N. 5, February 2012
The document entitled Info assurance médicaments and published on the website of the Régie de l’assurance maladie du Québec (RAMQ) presents the RAMQ’s positions on various topics related to Quebec’s Act respecting prescription drug insurance (hereinafter called “the Act”) and on the administration of private drug insurance plans. The RAMQ recently updated this document.
Tax credit for medical expensesNB Bulletin Vol. 15 N. 4, February 2012
Subject to certain eligibility criteria, a tax credit of between 4% and 20% of the incurred expenses can be granted to the taxpayer(1).
Proposed amendments to accounting standards applicable to employee future benefitsNB Bulletin Vol. 15 N. 3, January 2012
Private enterprises that only recently transitioned to new Canadian accounting standards already need to anticipate the impact of other amendments for employee future benefits that could be introduced in the near future. Private sector not-for-profit organizations are also preparing to adopt the new Canadian standards and must already consider the impact of future amendments to these standards.
Infrastructure Bonds: Why Consider Them?NB Bulletin Vol. 14 N. 12, December 2011NB bulletins
Pension funds are now—more than ever—looking for secure, long-term assets that produce a high steady rate of income. For several years now, bonds related to infrastructure projects, particularly those structured as public-private partnerships (PPPs), have become increasingly popular and have taken on a growing position in bond indexes. For some organizations, certain values or ideologies might render these investments inappropriate. However, they have characteristics that meet the needs of many pension funds to manage their mismatch risk and some institutional managers have set up funds dedicated to infrastructure debt.