Obesity in Canada In Canada, obesity is generally not recognized as a disability or a protected ground under the Human Rights Act. However, it is increasingly being recognized as a chronic disease rather than merely a lifestyle issue. Obesity can lead to various health conditions, including type 2 diabetes, cardiovascular disease and osteoarthritis. It currently […]
The markets have been anything but calm lately. The impact of tariffs or potential tariff threats are causing uncertainty in the global economy resulting in sharp swings in both directions over the past few months. While short-term volatility can feel unsettling, it is important to remember that these mega fluctuations, although infrequent, are an expected […]
CPP Background CPP/QPP (called ‘CPP’ for the purpose of this article) is a partially funded government pension that pays a pension income for life for those who contributed during their working years. In 2024, the maximum pension amount at age 65 is $1,364.60 ($16,375 per year), however the average payment is $816.52 per month. Your […]
Since our last news bulletin on this topic in December 2023, the federal government’s CDCP has been made available to eligible Canadians in all categories except those between age 18 and 65. Access to the program is expected to open for this group starting sometime in 2025. The CDCP is not intended to be a […]
Beneficiary Designation It is essential to ensure that life insurance beneficiary designations are kept up to date under your group benefits plan. Life events such as marriage, divorce, separation, or the birth of a child are common reasons to review and update this information. Failing to do so could result in the benefits being paid […]
Source: www.cra-arc.gc.ca and www.canada.ca […]
On June 4, 2024, the Financial Services Regulatory Authority (FSRA) of Ontario released their final guidance regarding retroactive adverse amendments. In the guidance, FSRA is prohibiting pension plan administrators from registering retroactive adverse amendments that could negatively affect plan members or beneficiaries, such as changes to contribution rates, with some exceptions. The new guidance is […]
On September 9, 2024, the Canadian Association of Pension Supervisory Authorities (CAPSA) published their highly anticipated revisions to the CAPSA Guideline No. 3. Background The Guidelines for Capital Accumulation Plans (CAP Guidelines) were first issued in May 2004 by the Joint Forum of Financial Market Regulators to outline regulators’ expectations for workplace CAP operations, regardless […]
by June Smyth and John Melinte In 1993, Bill Webb was working for a Canadian bank when all employees were offered a choice between keeping their Defined Benefit (DB) Pension Plan or converting to a (new) Defined Contribution (DC) option. At the time, interest rates were high and with the dot.com boom, equity markets were […]
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. […]