regulation – Benefits Canada.com

Critics calling for further delay of new drug pricing regulations

mdunne — Fri, 29 Oct 2021 13:00:09 +0000

Critics of a major drug price overhaul hope a fresh federal cabinet will put a temporary stop to the new regulations set to take effect in January. The Patented Medicine Prices Review Board is set to change the way it sets a price cap on medicines in Canada in an effort to lower excessively expensive drug costs. […]

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Health Canada delaying new drug pricing regulations another six months

lbailey — Wed, 30 Jun 2021 13:15:29 +0000

For the third time in a row, the federal government is delaying long-awaited changes to Canada’s drug pricing regime for a further six months. In an effort to give pharmaceutical companies more time to prepare for the impending changes, Health Minister Patty Hajdu announced Tuesday the regulations changing how the Patented Medicine Prices Review Board […]

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FSRA establishing committee to advise on pension plan regulatory processes

mschmit — Fri, 29 Jan 2021 11:00:05 +0000

The Financial Services Regulatory Authority of Ontario is establishing a technical advisory committee to provide insights on the province’s existing regulatory processes for employer-based pension plans. The committee’s 10 to 14 members will examine current regulatory processes in order to improve pension plan administration through cost-efficient and innovative practices. They’ll also discuss approaches to help ensure Ontario’s pension plan […]

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Drug pricing reforms may impact Canadians’ access to medications

mschmit — Fri, 15 Jan 2021 04:57:58 +0000

Despite concerns Canadian drug prices are skyrocketing, the Patented Medicines Price Review Board, Canada’s price regulator, has ensured costs for patented drugs haven’t increased more than the Canadian Consumer Price Index in close to 30 years, said Wayne Critchley, Global Public Affairs’ senior associate of health and life sciences, during Benefits Canada’s Face to Face […]

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OSFI launching consultation on climate change risks to pensions, financial institutions

mschmit — Tue, 12 Jan 2021 11:00:31 +0000

The Office of the Superintendent of Financial Institutions is launching a three-month consultation on risks arising from climate change that can affect the safety and soundness of federally-regulated pension plans and financial institutions. Along with a discussion paper, the consultation’s objective is to understand how plans and institutions identify, measure and build resilience to climate […]

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Stock markets wobble on uncertainty in U.S. election

mschmit — Wed, 04 Nov 2020 04:47:50 +0000

U.S. stock futures and markets around the world are mostly holding steady or ticking higher in early Wednesday trading, but only after spinning through an election night dominated by surprises and sharp swings. After rallying early this week amid hopes that Election Day’s arrival could clear the uncertainty that’s been weighing on markets, Treasury yields […]

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OSFI launches discussion on tech risks to pensions, other federal financial institutions

mschmit — Mon, 21 Sep 2020 05:20:32 +0000

The Office of the Superintendent of Financial Institutions is launching a three-month consultation on risks and other considerations regarding technological advancements impacting Canada’s financial sector. Along with a discussion paper, the consultation’s objective is to ensure federally regulated financial institutions and pension plans have solid strategies to manage non-financial risks. According to the agency, while rapidly […]

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FSRA seeking input on draft guidance for DB pension transfers

mschmit — Tue, 15 Sep 2020 05:00:11 +0000

The Financial Services Regulatory Authority is seeking stakeholder input on draft guidance on providing consent for asset transfer transactions under the Pension Benefits Act. Aiming to support predictability and transparency for defined benefit plan administrators, sponsors and members and to protect of the rights of members, the guidance sets out how the FSRA will exercise its discretion and […]

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OSFI lifting freeze on DB pension portability transfers, annuity purchases

mschmit — Tue, 01 Sep 2020 05:00:42 +0000

The Office of the Superintendent of Financial Institutions is lifting the temporary freeze on portability transfers for private pension plans. The move reverses the OSFI’s response in March to market volatility caused by the coronavirus pandemic, which froze portability transfers and annuity purchases from defined benefit pension plans. The restrictions are no longer needed, it noted in a […]

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DB regulations a bad fit for target-benefit plans, MEPPs: report

mschmit — Thu, 11 Jun 2020 05:30:09 +0000

Canada’s pension regulations have been designed to govern defined benefit plans and are a bad fit for target-benefit and multi-employer pension plans, according to a new report by the C.D. Howe Institute. The report, authored by Barry Gros, a retired actuary and chair of the University of British Columbia staff pension plan, argued that the […]

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