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!
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.
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.
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.
