On the heels of the World Health Organization declaring the novel coronavirus a global pandemic on March 11, 2020, Canada’s federal government rolled out several programs to support employers and employees through this once-in-a-century crisis. Almost three weeks after the pandemic declaration by the WHO the federal government introduced the Canada Emergency Wage Subsidy on […]
The federal government is consulting on potential solvency funding relief options for 2021 and measures to further strengthen the framework for federally regulated pension plans. About seven per cent of private pension plans in Canada are federally regulated, such as those in industries like banking, telecommunications and inter-provincial transportation, noted a press release from the […]
The Bank of Canada’s latest review of business and consumer expectations has revealed how widespread uncertainty is muting rehiring and purchasing plans, published days before a federal update gives the Liberals’ outlook for the economy. The central bank’s business outlook survey suggested about half of firms foresee a rebound in their sales within the next […]
The federal government is asking Canadians to weigh in on a consultation paper that tackles issues related to underfunding, insolvency and pension plans. The topics open for comment include that dividend payments, share redemptions and executive compensation packages could be restricted under the Canada Business Corporations Act if a company has a large pension deficit. […]
Latest CPP additions to cost $900 million by 2050, says Canada's chief actuary.