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News and Discussions on Payroll, HR & Employment Law

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pension plan

Have you amended your pension plan?

The Pension Benefits Act (Ontario) was recently amended. In this communiqué, we briefly review those amendments.

 

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Slaw: Update to Pooled Registered Pension Plan Bill

On June 29, 2012, legislation for Pooled Registered Pension Plans (PRPPs) has been given Royal Assent.

 

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Applying pension lessons learned from paper mill closures

newpage mill

On May 17, 2012, the Province of Nova Scotia adopted Bill 86, the NewPage Port Hawkesbury Pension Plans Act in response to a request by members of Local 972 of the Communications, Energy, and Paperworkers Union of Canada. The Act extends the life of four underfunded defined pension plans for the employees of the former NewPage Port Hawkesbury pulp and paper mill.

 

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Slaw: PRPPs vs. VRSPs

On March 21, 2012, Quebec became the first province to set up a detailed framework of provincial rules that will apply for PRPPs.

 

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Accounting Standards for Private Enterprises: what to do about defined benefit plans?

Is your company making the transition to Accounting Standards for Private Enterprises (CICA Handbook, Part II)? Do you have employees in a defined benefit pension plan? You should know that the Accounting Standards Board has approved amendments to CICA 1500, “First-time adoption” and Section 3461, “Employee future benefits”…

 

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Ministers agree on private sector pension plan

On Monday December 20, 2010, Finance Minister Jim Flaherty announced that the provinces, territories and the federal government came to an agreement during their meeting in Alberta to move ahead with a new private-sector pension plan called the pooled registered pension plan framework. This means any talk regarding the expansion of the Canada Pension Plan is put on hold for now.

 

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Nova Scotia introduces phased-in retirement

The Nova Scotia government is in the process of finalizing amendments to the Pension Benefits Act to introduce phased-in retirement to the Nova Scotia labour force.

 

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Pension reforms are coming to Ontario (and Canada, too)

But who’s going to explain them to you? Or maybe more importantly, who’s going to explain whether the changes mean anything to you?

 

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