Category: Federal
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OSFI Solvency Information Return
The Office of the Superintendent of Financial Institutions has updated its Instruction Guide to assist federally-registered defined benefit plan administrators when completing Solvency Information Returns (SIR . . .
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OSFI Consultation re Climate-Related Risks
The Office of the Superintendent of Financial Institutions has published a discussion paper: Navigating Uncertainty in Climate Change: Promoting Preparedness and Resilience to Climate-Related Risks . . .
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Federal Announcement re Quarantine Benefits
The federal government announced that it will be introducing legislation to restrict access to the Canada Recovery Benefit (CRB), the Canada Recovery Caregiving Benefit (CRCB) and the Canada Recovery Sickness Benefit (CRSB . . .
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Canada (Attorney General) v. Jost, 2020 FCA 212 – Court Overturns Certification of Class Action re Delayed Pension
In the spring of 2015, Jost was considering retirement from the Canadian Armed Forces (CAF), and was advised that he could expect to receive a lump sum pension benefit within 8 to 12 weeks. At the time, the transfer value was estimated to be $859,980.00 . . .
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CRA Announcements re Home Office Expenses & Employer Benefits
In response to COVID-19, the Canada Revenue Agency (CRA) announced changes to the process for claiming a deduction for home office expenses and the tax treatment of certain employer benefits . . .
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OSFI Updates Maximum Amounts Payable from LIF, RLIF & VBA
OSFI has revised the table setting out the maximum annual amount of income that may be paid from a Life Income Fund, a Restricted Life Income Fund and a Variable Benefit Account to include factors applicable in 2021 . . .
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OSFI Updates Guide re Filing Pension Plan Amendments
The Office of the Superintendent of Financial Institutions updated its guide: Filing Pension Plan Amendments using the Regulatory Reporting System (RRS). T . . .
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OSFI FAQs re New Standards of Practice for Calculating Commuted Values
The Office of the Superintendent of Financial Institutions published FAQs related to the Canadian Institute of Actuaries' revised Standards of Practice for Pension Plans – Pension Commuted Values . . .
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Federal Fall Economic Statement 2020
The federal government's Fall Economic Statement included a few announcements with potential implications for pensions, benefits and other compensation . . .
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Federal Draft Legislative Proposals re Employee Life & Health Trusts
The federal government published draft legislative proposals for Employee Life and Health Trusts (ELHT), which include revisions in response to comments on the first round of proposals . . .
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