Quebec tables bill to remove solvency funding
This and other subjects included in the current issue of the Morneau Shepell News & Views monthly publication
TORONTO, June 22, 2015 /CNW/ - In the June 2015 issue of its monthly newsletter, News & Views, Morneau Shepell examines the Quebec Government's recently tabled bill on funding of defined benefit plans in the private sector. The June edition also looks at the Federal Government's announcement to propose voluntary CPP contributions and the passing of Ontario's Pooled Registered Pension Plans Act.
- Quebec: Bill respecting the funding of defined benefit pension plans in the private sector – Morneau Shepell looks at the main measures proposed by the new Bill 57, which would come into force on January 1, 2016 and drastically revise actuarial valuations dated after December 30, 2015. The bill applies to all defined benefit plans (including defined benefit components) in the private sector and significantly changes the funding rules for such plans, most notably by removing the requirement to fund solvency deficits and by adding a new provision in the funding basis.
- Canadian endowments and foundations: Standing out by staying put with their investments – Morneau Shepell summarizes its own survey that examines the investment patterns of Canadian endowments and foundations.
- Quebec: Adoption of Bill 28 and cost of medications – Morneau Shepell looks at the implications of the adoption of Bill 28, which has important consequences for private insurance plans in Quebec. In its analysis, experts break down the information about the new Bill.
- Federal government proposes possible Canada Pension Plan expansion – Morneau Shepell examines the Federal Government's announcement to propose voluntary CPP contributions.
- Pooled registered pension plans (PRPP) bill passes in Ontario legislature – Morneau Shepell explains the new Act that creates a framework for Ontario businesses to offer PRPPs to their employees, and makes PRPPs available to the self-employed.
- Alberta extends compliance deadlines under the Employment Pension Plans Act – Morneau Shepell breaks down the four compliance activities related to the deadline extension as well as the implications of the extension.
- Quebec: Régie des rentes to be combined with CARRA – Morneau Shepell explains the bill that would create a new pension body that would be called Retraite Québec.
- 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.
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SOURCE Morneau Shepell - Pension/Retirement