Category: Federal
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OSFI Updates Guide re Preparation of Actuarial Reports
The Office of the Superintendent of Financial Institutions has updated its Instruction Guide for the Preparation of Actuarial Reports for Defined Benefit Pension Plans . . .
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Federal Government Passes Bill C-30
The federal government passed Bill C-30, An Act to implement certain provisions of the budget tabled in Parliament on April 19, 2021 and other measures on June 29, 2021. The Bill includes amendments to the Pension Benefits Standards Act, 1985, Old Age Security Act, Canada Recovery Benefits Act, Employment Insurance Act and Canada Labour Code, as well as pension and benefit related amendments to the Income Tax Act and the Bank of Canada Act . . .
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OSFI InfoPensions #24
The Office of the Superintendent of Financial Institutions published InfoPensions #24, which includes a few updates/reminders for plan administrators, actuaries and other pension service providers . . .
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Federal Update re Relief for Registered Pension Plans and Deferred Salary Leave Plans
The federal government announced that it is extending proposed amendments to the Income Tax Regulations initially released on July 2, 2020 that provide temporary relief to Registered Pension Plans (RPPs) and deferred salary leave plans (DSLPs . . .
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OSFI Guides re DB & DC Plan Termination
The Office of the Superintendent of Financial Institutions published final instruction guides regarding termination of federally regulated defined benefit (DB) and defined contribution (DC) pension plans . . .
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Federal Government Introduces Bill C-30 re Budget
The federal government introduced Bill C-30, An Act to implement certain provisions of the budget tabled in Parliament on April 19, 2021 and other measures, for first reading on April 30, 2021. Bill C-30 includes amendments to the Pension Benefits Standards Act, 1985 (PBSA), Old Age Security Act (OAS Act), Canada Recovery Benefits Act (CRBA), Employment Insurance Act (EI Act) and Canada Labour Code (Code), as well as pension and benefit related amendments to the Income Tax Act (ITA) and the Bank of Canada Act (BCA . . .
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OSFI Updates PRRP AIR Guide
OSFI has updated its Guide to the Pooled Registered Pension Plan Annual Information Return (AIR), Auditor’s Report and Pension Plan Annual Corporate Certification . . .
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Federal Budget 2021
The Federal government released its budget for 2021, which includes the following pension and benefit related announcements . . .
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Federal Regulations re Canada Labour Code & Canada Recovery Benefits
Further to an earlier announcement, the federal government has published regulations increasing COVID-19 benefits and federal leaves of absence . . .
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Federal Government Passes Bill C-24 re EI & Canada Recovery Benefits
The federal government passed Bill C-24, An Act to amend the Employment Insurance Act (additional regular benefits), the Canada Recovery Benefits Act (restriction on eligibility) and another Act in response to COVID-19, on March 17, 2021. Bill C-24 includes amendments to the Employment Insurance Act (EI Act) and the Canada Recovery Benefits Act (CRBA . . .
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