Salary increase projections for 2025: increase budgets slowly declining

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Salary increase projections for 2025 are now available : read more

NB bulletins

Normandin Beaudry Announces Strategic Appointment of Sonia Gélinas as Partner, Pension

Montréal, Québec – July 16, 2024 – Normandin Beaudry, a leader in actuarial and total rewards consulting services, is pleased to announce the appointment of Sonia Gélinas as the organization’s newest partner with the Pension team. An experienced actuary with a proven track record in consulting to large plans under Québec’s municipal and university regulation, Ms. Gélinas is set to elevate Normandin Beaudry’s service offerings.

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July 2024

Normandin Beaudry Pension Plan Financial Position Index, June 30, 2024

The average funded ratio and solvency ratio of pension plans improved slightly in Q2 2024.

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July 2024

Quebec drug insurance plan: New rates starting July 1, 2024

Every year on July 1, the Régie de l’assurance maladie du Québec (RAMQ) adjusts the rates for the public prescription drug insurance plan to take into account changes in plan costs.

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July 2024

Adoption of regulation for greater flexibility in the use of retirement savings in Quebec

On June 19, the Quebec government adopted the Regulation amending the Regulation respecting supplemental pension plans (Regulation), intended to offer greater flexibility in the use of retirement savings as of age 55.

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June 2024

Normandin Beaudry Provides Canadian Insights Following International Benefits Survey  

Normandin Beaudry, a leader in actuarial and total rewards consulting services, today issued Canadian insights following MBWL International’s release of its 2024 Global Benefits Forecast survey.

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June 2024

Recent Guidance for Ontario Registered Pension Plans

The Financial Services Regulatory Authority of Ontario (FSRA) has recently issued guidance on the following topics, which directly affect Ontario pension plans and their management. This bulletin summarizes the content and outlines of these guidelines.

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June 2024

Accounting standards applicable to future employee benefits: Assumptions used by Canadian organizations and latest updates

Many private-sector organizations must include in their financial statements the recognition of their obligations toward defined benefit pension plans (DB pension plans) and other post-employment benefit plans, such as medical care plans offered to retirees (other benefits).

Similarly to last year, Normandin Beaudry’s specialists have analyzed the annual reports of Canadian organizations listed on the S&P/TSX 60 Index (the 60 largest organizations) and on the S&P/TSX Mid Index (mid-cap organizations) for which the fiscal year ended between September 30, 2023, and February 9, 2024.

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June 2024

Quebec to introduce bill ending required medical notes for reimbursements from insurers

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May 2024

The 2024 federal budget and your total rewards offering

The federal budget released on April 16, 2024, contains measures that could have a direct or indirect impact on your organization’s total rewards offering. Our experts have put together a watch list in light of the available information.

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April 2024

Normandin Beaudry Pension Plan Financial Position Index, March 31, 2024

The year 2024 is off to a positive start for pension plans, with favourable stock market returns and rising interest rates, which tend to reduce the value of pension plan liabilities.

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April 2024

Supreme Court of Canada denies application for leave to appeal Bill 15 challenge

On April 11, the Supreme Court of Canada denied the application for leave to appeal the challenge to the Act to foster the financial health and sustainability of municipal defined benefit pension plans (Bill 15).

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April 2024

Annuity purchases in Canada in 2023: the enthusiasm continues

Discover our first market monitoring report on annuity purchases in Canada in 2023!

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March 2024

Introduction of Bill C-64 on the national pharmacare plan

Following the announcement of an agreement between the Liberal Party of Canada and the New Democratic Party of Canada (NDP), Bill C-64, An Act respecting pharmacare, was introduced on February 29.

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March 2024

2023 tax credit for medical expenses

For the 2023 tax year, Canadian taxpayers could be entitled to a tax credit ranging from 4% to 20% for medical expenses incurred for themselves or their dependants. This credit is subject to certain conditions and depends on the province or territory of residence.

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February 2024

Leveraging governance and labour shortages issues into opportunities in benefits administration

For job seekers, group benefits are the second most important factor after salary. With the growing labour shortage, it is more important than ever to offer a group benefit plan that fosters talent retention and performance, while improving the employee experience.

In this context, there are various ways to promote a plan among groups of employees and HR departments.

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February 2024

Proposed regulation for greater flexibility in the use of retirement savings in Quebec

On December 27, 2023, the Quebec government published proposed regulation amending the Regulation respecting supplemental pension plans (Proposed Regulation)¹, intended to offer greater flexibility in the use of retirement savings as of age 55. This flexibility may be interesting for individuals who wish to make larger withdrawals in the early years of their retirement so they can defer government pensions.

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February 2024

Municipal and university sectors
Regulatory reform of defined benefit pension plan funding

On January 23, the Government of Quebec adopted the Regulation respecting the funding of defined-benefit pension plans of the municipal and university sectors (Regulation). The Regulation will come into force on February 22, 2024, and amendments will apply for actuarial valuations as at December 31, 2023.

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February 2024

The Top 10 Developments in Drug Insurance of 2023

A look back at the highlights of 2023 in this ninth edition of our top drug insurance developments of the past year.

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February 2024

Normandin Beaudry Pension Plan Financial Position Index, December 31, 2023

After a significant rise in interest rates in previous quarters, the year ended with slightly lower rates than at the beginning of 2023. Despite the large variation of this key indicator, the financial position of the average pension plan remained relatively stable over the year. This favourable financial position allows many administrators and pension committees to prioritize and implement strategies that benefit their organization.

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January 2024

Our coordinates

general@normandin-beaudry.ca

Montreal

630, René-Lévesque Blvd. West, 30th floor
Montreal, QC H3B 1S6

514-285-1122

Toronto

155, University Avenue, Suite 1805
Toronto, ON M5H 3B7

416-285-0251

Quebec City

1751, du Marais Street, Suite 300
Quebec City, QC G1M 0A2

418-634-1122