Pension plans

The federal budget released on March 28, 2023, contains some measures that could have a direct or indirect impact on an organization’s total rewards offering. Our experts have put together a watch list in light of the available information.

In tabling its budget on March 21 (Budget 2023-2024), the Quebec government took the opportunity to also announce its planned changes to the Québec Pension Plan (QPP). These changes come on the heels of the recent public consultation that took place in February. Our experts have analyzed the announced changes based on the available information.

As of April 1, 2023, the federal government will introduce the Tax-Free First Home Savings Account (FHSA) to help Canadian residents age 18 to 71 save a downpayment for their first home. To be eligible, they must be Canadian residents who have not owned homes and haven’t lived with a spouse or common-law partner who owns a home during the part of the year before the FHSA is opened or in the preceding four years.

As it does every six years, the Quebec government is currently holding a public consultation on the Québec Pension Plan (QPP). This consultation aims to explore various solutions to address the challenges facing the Quebec pension system. Read on to learn more about this process.

Today we are launching the Normandin Beaudry Pension Plan Financial Position Index. Our specialists closely monitor the financial position of our clients’ defined benefit pension plans and will present this index to you on a quarterly basis.