Nova Scotia – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 22 Nov 2024 22:16:07 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-108/ Fri, 15 Nov 2024 14:00:24 +0000 https://www.benefitscanada.com/?p=162852 An article on incoming changes to Nova Scotia’s provincial Pension Benefits Act was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Nova Scotia to allow unlocking of pension benefits 2. Alberta government fires AIMCo CEO, board, citing rising costs and poor […]

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]]> Nova Scotia to allow unlocking of pension benefits https://www.benefitscanada.com/pensions/governance-law/nova-scotia-to-allow-unlocking-of-pension-benefits/ Mon, 11 Nov 2024 14:00:20 +0000 https://www.benefitscanada.com/?p=162526 The Nova Scotia government is updating the provincial Pension Benefits Act to allow the unlocking of pension benefits. Effective April 1, 2025, plan members aged 55 and older will have a one-time ability to unlock up to 50 per cent of their locked-in funds when transferring to a life income fund. Read: Quebec’s amendment to […]

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]]> Nova Scotia offers retirement fund top-ups to attract, retain physicians https://www.benefitscanada.com/pensions/retirement/nova-scotia-offers-retirement-fund-top-ups-to-attract-retain-physicians/ Thu, 17 Oct 2024 19:00:22 +0000 https://www.benefitscanada.com/?p=161429 The Nova Scotia government is offering to pay up to $15,000 a year into a new retirement benefits program for doctors in hopes the public money will keep more physicians in the province. Premier Tim Houston announced the new program Wednesday, saying the annual contributions will be available to Nova Scotia’s roughly 3,000 doctors at […]

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]]> Nova Scotia Pension Services Corp. assets increase to $13.7BN in fiscal 2024 https://www.benefitscanada.com/canadian-investment-review/research-markets/nova-scotia-pension-services-corp-assets-increase-to-13-7bn-in-fiscal-2024/ Mon, 05 Aug 2024 19:00:31 +0000 https://www.benefitscanada.com/?p=158714 The Nova Scotia Pension Services Corp. — which administers the investment assets of the Public Service Superannuation Plan and the Teachers’ Pension Plan — reported an increase in net assets to $13.7 billion, a year-over-year increase of about $670 million, for the fiscal year ending March 31, 2024. The PSSP saw an investment return of 7.93 […]

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]]> Medicus Pension Plan reports 158% funded status at start of 2024 https://www.benefitscanada.com/canadian-investment-review/db-investments/medicus-pension-plan-reports-158-funded-status-at-start-of-2024-report/ Tue, 11 Jun 2024 13:00:46 +0000 https://www.benefitscanada.com/?p=156720 The Medicus Pension Plan, a defined benefit multi-employer pension plan designed exclusively for incorporated physicians in Canada, reported a funded status of 158 per cent on a going-concern basis and a 115 per cent funded status on a solvency basis as of Jan. 1, 2024. The plan, which launched in May 2023, is designed to […]

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]]> N.S. providing CAAT DBplus pension plan, comprehensive benefits plan to ECEs, support staff https://www.benefitscanada.com/news/bencan/n-s-providing-caat-dbplus-pension-plan-comprehensive-benefits-plan-to-eces-support-staff/ Fri, 05 Jan 2024 14:00:14 +0000 https://www.benefitscanada.com/?p=149610 The government of Nova Scotia is introducing a new benefits and pension package for roughly 3,000 early childhood educators and support staff. All employees will be enrolled in the Colleges of Applied Arts and Technology’s DBplus pension plan. The province will fund employers to provide pension contributions retroactive to Jan. 1, 2024. The province will […]

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]]> N.S. legislation allowing private employers to transfer pensions into PSSP https://www.benefitscanada.com/pensions/governance-law/n-s-legislation-allowing-private-employers-to-transfer-pensions-into-pssp/ Thu, 23 Nov 2023 14:00:16 +0000 https://www.benefitscanada.com/?p=147565 Nova Scotia-based private employers can now transfer their pension plans into the Public Service Superannuation Plan. The Private Sector Pension Plan Transfer Act, which received royal assent on Nov. 9, provides all employers based in the province with the option of offering or continuing to offer a defined benefit pension plan with a prescribed funding […]

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]]> Canadian jurisdictions enacting pay transparency legislation, but more work to be done https://www.benefitscanada.com/human-resources/hr-law/canadian-jurisdictions-enacting-pay-transparency-legislation-but-more-work-to-be-done/ Tue, 21 Nov 2023 14:00:14 +0000 https://www.benefitscanada.com/?p=147431 Pay transparency legislation is quickly gathering steam in Canada as provincial governments take steps towards shrinking the gender wage gap. Prince Edward Island was first to the post with pay transparency provisions in June 2022. While Newfoundland and Labrador’s Pay Equity and Transparency Act received royal assent in November 2022, its pay transparency provisions haven’t […]

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]]> Nova Scotia Labour Board orders St. Mary’s University to resume pension contributions for plan members on LTD leave https://www.benefitscanada.com/pensions/governance-law/nova-scotia-labour-board-orders-st-marys-university-to-resume-pension-contributions-for-plan-members-on-ltd-leave/ Thu, 21 Sep 2023 13:00:42 +0000 https://www.benefitscanada.com/?p=143826 The Nova Scotia Labour Board has ordered St. Mary’s University to resume making pension contributions for employees on long-term disability leave, reasoning that the pension committee had no authority to make changes to contribution levels mandated by the plan. “The board found that amendments to the pension plan proposed by the pension committee — the […]

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]]> Which Canadian provinces are introducing right-to-disconnect legislation? https://www.benefitscanada.com/news/bencan/which-canadian-provinces-are-introducing-right-to-disconnect-legislation/ Thu, 25 Aug 2022 13:00:06 +0000 https://www.benefitscanada.com/?p=126003 While right-to-disconnect legislation provides employees with a clear definition of their expected work hours, governments have to be careful they aren’t overly regulating because people have different ways of working productively, says Elaine Gringauz-Yedlin, chief operating officer of corporate benefits at Johnston Shaw Inc. “I have two young children and sometimes during the day I get […]

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