NB bulletins

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.

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

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.

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.

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.

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.

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.

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.

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).

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