Source: www.cra-arc.gc.ca and www.canada.ca If you have any questions about these government benefits and limits, please contact June Smyth at 416-863-9159 ext 233. […]
2024 Government Benefits & Limits – A Quick Reference
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FSRA Proposed Fee Changes
Effective November 28, 2022, FSRA proposed an increase to their pension-sector fees to a minimum of $1,000. The prior fee change in 2019 saw an increase from $250 to $750. The fee is dependent on the number of beneficiaries in the plan, with plans of 91 beneficiaries or fewer subject to a fee of $1,000. […]
2023 Government Benefits & Limits – A Quick Reference
Source: www.cra-arc.gc.ca and www.canada.ca If you have any questions about these government benefits and limits, please contact June Smyth at 416-863-9159 ext 233. […]
Report on ESG and Fiduciary Responsibilities
A new report published by C.D. Howe Institute suggests that plan sponsors should avoid prioritizing Social, Environmental and Governance (ESG) factors when making decisions that could potentially affect the financial outcome of their plan members. As some plan members shift their values in everyday decisions and choices that incorporate ESG factors, there may also be […]
FSRA Guidance on Pension Plan Amendments
The Financial Services Regulatory Authority of Ontario (FSRA) recently released draft Proposed Guidance on Pension Plan Amendments for consultation. The guidance seeks to provide clarity regarding the following: Effective Date of Amendments: Previously, FSRA has allowed effective dates of amendments to be earlier than the filing date with FSRA. The guidance seeks to update the […]
FSRA Removes Requirements for Auditor’s Report and Statement of Investment Policies and Procedures for Defined Contribution Pension Plans
Effective February 11, 2022, the Financial Services Regulatory Authority of Ontario (FSRA) has confirmed amendments to the Pension Benefits Act removing the requirement for plan administrators of member-directed Defined Contribution Pension Plans (DCPP) to prepare a Statement of Investment Policies and Procedures (SIPP). FSRA also confirmed the requirement for plan administrators of DCPPs to file […]
Provincial Dental Fees for 2022
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Increase in Employment Insurance (EI) Maximum Insurable Earnings Affects Short-Term Disability (STD) Plans
The federal government announced the 2022 EI premium rates and maximums. New rates have been in effect as of January 1, 2022. Maximum insurance earnings $60,300 Maximum weekly EI benefit $638 This increase affects STD plans where: ● The maximum STD benefit is based on the EI maximum weekly benefit ($638 for 2022), or ● The EI […]
Changes to Manitoba Legislation coming into effect
On October 1, 2021, amendments to The Pension Benefits Act and Regulations (Manitoba) came into effect and some of the highlights are shown below: Statement of Investment Policies & Procedures (SIP) Annual filing of the latest SIP is now required within 180 days of the end of each fiscal year of the plan. Previously, the […]
The 5 Most Common Employment Benefits
Research for the 2021 Robert Half Salary Guides revealed the following benefits that businesses most frequently offer. Extended Health insurance — After salary, this benefit is of the utmost importance to many job candidates and typically includes medical coverage for employees and their families. In a Robert Half survey of more than 500 HR managers […]