May 2010 | | New rules for federally regulated pension plans
The first set of draft regulations for the Pension Benefits Standards Act (PBSA) were released on May 3. These draft regulations cover only those changes related to funding and investment rules, and are part of a long list of intended changes to federally regulated pension plans. Changes to other pension benefit rules have been included in government omnibus Bill C-9, which passed second reading in the House of Commons on April 19, but is unlikely to come into force before fall. The main changes covered in both the recently released regulations and Bill C-9 are described in this edition of Analysis.
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April 2010 | | Manitoba’s Pension Benefits Amendment Act proclaimed into force
The Pension Benefits Amendment Act of Manitoba has been proclaimed into force – five years after it received Royal Assent. Although it received Royal Assent in April 2005, the legislation was not enacted at that time because the companion Pension Benefits Regulation had to be overhauled first to accommodate the Act’s sweeping new provisions. The revised Regulation is now complete and was registered by the Manitoba government on March 26, 2010 – paving the way for enactment of the new legislation.
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January 2010 | | International Financial Reporting Standards: Canada adopting new global accounting standards
Canada will adopt the International Financial Reporting Standards (IFRSs) effective January 1, 2011. This Analysis gives you some background and comparison on what changes you can expect, including: what organizations will be affected by the changes, the differences in accounting for pensions and other post-employment benefits between the current Canadian and international standards, and the transition options.
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June 2009 | | Ontario amends pension regulations
The temporary solvency funding relief for defined benefit pension plans registered in Ontario, which was promised by the Ontario government in its 2009 budget, is finally here with the filing of an amendment to the Regulation under the Pension Benefits Act of Ontario on June 19, 2009. For the most part, the text of the amendment confirms what had previously been announced. But there are a few surprises, including restrictions on the payment of commuted values for under-funded plans and the application of the relief for valuations already filed.
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March 2009 | | Mind the gap: ENGAGING A NEW GENERATION OF EMPLOYEES
Getting the attention of the workforce has never been more challenging — or interesting. The relatively recent birth of the digital age has changed the employment landscape considerably. At the same time, the corresponding proliferation of technology and resulting connectivity has had a profound effect on workers’ expectations and employee communications. Baby Boomers, who currently dominate the senior ranks in many organizations, are looking for effective ways to connect with their new-generation employees and recruits. What they are discovering is that the line between the generations is defined by more than a seemingly innate comfort with technology and gadgetry, and that the key to effective communication extends beyond the development of funky Web sites or the delivery of electronic media.
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January 2009 | | Target benefit plans: the overlooked gem in the OECP Report
Among the 142 recommendations contained in the OECP (Ontario Expert Commission on Pensions) Report, one innovation has been overlooked by many commentators – the recommendation to expand the use of target benefit pension plans for Ontario employees. Specifically, the OECP Report promotes target benefit plans as a practical alternative to traditional defined benefit (DB) and defined contribution (DC) plans.
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September 2008 | | Executive Compensation Disclosure - Amendments made by the Canadian Securities Administrators
The Canadian Securities Administrators (CSA) – the forum that co-ordinates and harmonizes the regulation for Canada’s capital markets – has adopted new disclosure requirements for executive compensation. (Adoption of the new requirements follows two rounds of draft amendments and comment periods.)
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May 2007 | | Changes to accounting for defined benefit plans under CICA 3461
Financial reporting in Canada for defined benefit (DB) plans is changing again. Canada's Accounting Standards Board (AcSB) has released proposed changes to Section 3461 of the Canadian Institute of Chartered Accountants (CICA) Handbook.
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November 2006 | | Coming of Age
The end of mandatory retirement in Ontario has important implications for pension and benefit plans.
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November 2006 | | Alberta Challenge - Employment Pension Plans Amendment Act
Long expected changes in Alberta’s Employment Pension Plans Act and Regulations came into effect on August 10, 2006. The changes are extensive and numerous. They involve new rules, forms and filings.
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June 2004 | | Changes in Pension Commuted Values
With an effective date of February 1, 2005, the Canadian Institute of Actuaries (CIA) recently approved the adoption of a revised actuarial Standard of Practice for Determining Pension Commuted Values.
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May 2004 | | New accounting disclosure
What’s new. New areas of disclosure include significant accounting policies, a plan description, measurement and valuation dates, a breakdown of assets by category, and more details on assumptions.
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