Federal budget – Benefits Canada.com

CLHIA calling for increased access to VPLAs, prescription drugs

bwolfe — Mon, 09 Aug 2021 19:00:32 +0000

The Canadian Life and Health Insurance Association is calling on the federal government to permit standalone variable payment life annuities to pool participants from all registered retirement plans. In its 2022 federal budget submission, the CLHIA said VPLAs, as enacted, will only be available to members of very large defined contribution pension plans, excluding Canadians […]

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CFIB, Unifor clashing over proposed $15 federal minimum wage

mdunne — Fri, 14 May 2021 19:00:47 +0000

The head of the country’s largest private sector union says Parliament should raise the federal minimum wage to $15 per hour and possibly put future increases into the hands of an independent commission. Unifor president Jerry Dias says an independent commission could be comprised of key stakeholders to research the effects of minimum wage policy […]

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Pharmacare should include high-cost treatment strategy, flexibility for plan sponsors: consultant

bwolfe — Thu, 22 Apr 2021 13:00:27 +0000

While a national pharmacare program is yet to be revealed by the federal government, any future plan should contain provisions for all costly treatments and not just rare diseases, says Jennifer Schmidt, a principal at Mercer Canada. Read: Federal budget highlights national childcare system, extension of pandemic subsidies This week’s federal budget announcement contained only […]

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Federal budget fails to support pension reform, says retiree group, politicians

bwolfe — Wed, 21 Apr 2021 19:00:38 +0000

The Canadian Federation of Pensioners is calling for amendments to federal insolvency laws to protect members of defined benefit pensions if the employer is insolvent. The federation, which represents 23 retiree groups with a total of about 300,000 members, renewed its call for legislative changes after the federal budget failed to mention the issue on […]

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Scotiabank CEO calling on feds to increase childcare spending

bwolfe — Wed, 14 Apr 2021 13:00:04 +0000

The head of the Bank of Nova Scotia is urging Ottawa to top up the annual Canada Child Benefit and increase childcare expense deductions, ahead of the federal budget announcement slated for April 19. During the bank’s annual general meeting on April 13, Brian Porter, chief executive officer of Scotiabank, said he wants the benefit […]

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Budget 2019: Proposed changes to pension legislation, annuities, CPP

mschmit — Wed, 20 Mar 2019 05:30:19 +0000

In its 2019 budget on Tuesday, the federal government announced a number of proposals regarding pension protections, off the back of recent high-profile corporate bankruptcies that have thrown the sustainability of some Canadians’ defined benefit plans into doubt during the past few years. Indeed, the federal government received 4,400 submissions in response to its request for comment on the […]

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Feds must act to protect Sears’ Canadian pensioners: CARP

mschmit — Mon, 22 Oct 2018 05:15:19 +0000

The Canadian Association of Retired Persons is calling out the federal government, saying it’s unfair the pensions of Sears Holding Corp.’s American employees will be protected by the U.S.’s Pension Benefit Guaranty Corp. while Canadian employees will see benefits cuts. The Canadian operation has been under court-ordered liquidation since June 2017, and Ontario’s superintendent of financial services ordered […]

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Budget includes right to request flexible work, changes to internship rules

mschmit — Thu, 23 Mar 2017 06:43:21 +0000

Among the changes announced in Wednesday’s budget that affect employers is a plan to revamp the rules around unpaid internships and introduce a right to request flexible work. In its budget, the federal government announced it would give federally regulated workers the right to request flexible work arrangements, such as working from home or adjusting their workday, from their […]

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Will PRPPs succeed?

mschmit — Fri, 18 Mar 2011 09:40:50 +0000

Pooled registered pension plans (PRPPs) are coming, and many will say not a moment too soon given that only one in three private sector worker is currently participating in a registered pension plan or group RRSP. The hope is that PRPPs will dramatically improve pension coverage thus relieving public pressure to expand the Canada/Quebec Pension […]

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