Ontario releases ORPP details and the Federal government joins pan-Canadian Pharmaceutical Alliance
These and other subjects are included in the current issue of the Morneau Shepell monthly publication, News & Views
TORONTO, Feb. 17, 2016 /CNW/ - In the February 2016 issue of its monthly newsletter, News & Views, Morneau Shepell provides a detailed look at the new ORPP details released recently and at implications of the federal government joining the pan-Canadian Pharmaceutical Alliance. Also in this edition, the Company looks at new insights in mental health in the workplace, derived from its own survey of employers and employees.
- New insights on workplace mental health – Employers are now realizing that employee productivity, engagement and attendance is strongly impacted by the mental health and wellness of employees and the workplace. Negative stress and impact of that stress is one indicator of mental wellness. Morneau Shepell examines the results of a survey it conducted late last year that brings forward new insights on this issue.
- Ontario government releases more ORPP details – The Ontario government has released further design details of the ORPP. The announcement includes details on benefit levels, indexation and death benefits. It also covers administrative rules that will affect employers, such as the definition of employment in Ontario, the definition of earnings, and waiting periods before employees join a comparable pension plan.
- Federal government joins pan-Canadian Pharmaceutical Alliance (pCPA) – Morneau Shepell analyzes the federal government announcement that it will join the pCPA. The pCPA facilitates joint negotiation of prescription drug prices. Started in 2010, the pCPA has completed more than 89 negotiations on brand name drugs and price reductions on 14 generics, producing savings of more than $490 million annually through economies of scale.
- Removal of controversial new union reporting under Bill C-377 – The new Liberal federal government has announced its intention to repeal controversial rules which were intended to increase transparency and accountability of labour unions by amending the Income Tax Act to require unions to disclose certain financial information. This means that unions and stakeholders will not be required to develop and submit detailed tracking of their activities to the Canada Revenue Agency.
- Ontario: draft regulations on multi-employer pension plans ("MEPPs") asset transfers –The Ontario Ministry of Finance has released draft regulations to facilitate asset transfers between MEPPs. Morneau Shepell explains what this means for employers.
- Market Indices – Monthly summary of returns from various market indices such as the FTSE TMX Bond Indices and Canadian, U.S. and Foreign Equity Indices. Also includes returns from benchmark portfolios used by pension funds.
- Tracking the funded status of defined benefit pension plans – Impact of past returns on plan assets and the effect of interest rate changes on solvency liabilities.
- Impact on pension expense under international accounting – Expense impact for a typical defined benefit pension plan.
About Morneau Shepell Inc.
Morneau Shepell is the only human resources consulting and technology company that takes an integrative approach to employee assistance, health, benefits and retirement needs. The Company is the leading provider of employee and family assistance programs, the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada. Through health and productivity, administrative, and retirement solutions, Morneau Shepell helps clients reduce costs, increase employee productivity and improve their competitive position. Established in 1966, Morneau Shepell serves approximately 20,000 clients, ranging from small businesses to some of the largest corporations and associations in North America. With almost 4,000 employees in offices across North America, Morneau Shepell provides services to organizations across Canada, in the United States, and around the globe. Morneau Shepell is a publicly-traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
SOURCE Morneau Shepell - Pension/Retirement