These are among the subjects included in the current issue of the
Morneau Shepell News & Views, a monthly publication dedicated to
providing insights to its clients in Canada.
TORONTO, July 18, 2013 /CNW/ - Morneau Shepell releases, in the current
issue of its newsletter, News & Views, highlights of its 2013 survey on the economic assumptions used by
Canadian public companies to account for the costs of their defined
benefits pension plans.
2013 SURVEY - ECONOMIC ASSUMPTIONS IN ACCOUNTING - According to the results of this survey of Canadian public companies,
the discount rates used for pension plans have decreased for the fourth
straight year. Also, about 68 per cent of the companies responding to
the survey disclosed an expected long-term rate of return on plan
assets between six and seven per cent. See this issue for more survey
highlights and our website for the full survey.
A NEW TRANSFER OPTION FOR RETIREES OF AVEOS - Read about the new special measures for this federally-regulated plan.
Aveos retirees will not be required to purchase an immediate life
annuity from an insurer following the wind-up of the retirement plan,
which filed for creditors' protection under the CCAA in March 2012.
CANADIANS CAN NOW DELAY THEIR OLD AGE SECURITY PENSION FOR UP TO 5 YEARS - As of July 1, 2013, Canadians can choose to defer payment of their
Old Age Security (OAS) pension for up to five years after their 65th birthday. This will lead to a higher monthly amount in the future. It
might be an interesting option for Canadians who will continue to work
REGULATION CHANGES FOR PENSION PLANS IN SASKATCHEWAN - Amendments to a number of rules under the pension benefits
regulations in Saskatchewan came into effect June 26, 2013. Among the
changes are some funding relief for public sector pension plans and an
increase in the annual assessments that all pension plans registered in
the province must pay.
ONTARIO RELEASES DRAFT ASSET TRANSFER REGULATIONS - Draft regulations issued by Ontario's Ministry of Finance would
facilitate transfers of assets between pension plans as a result of
corporate reorganizations, including the sale of a business. The
legislative amendments and draft regulations provide a formula, based
on the transferring plan's solvency ratio, to determine the amount of
assets to be transferred. Also covered is how the benefit security for
members in both plans is protected.
About Morneau Shepell Inc.
Morneau Shepell is the largest company in Canada offering human
resources consulting and outsourcing services. The Company is the
leading provider of Employee and Family Assistance Programs, as well as
the largest administrator of pension and benefits plans. Through health
and productivity, administrative, and retirement solutions, Morneau
Shepell helps clients reduce costs, increase employee productivity, and
improve their competitive position. Established in 1966, Morneau
Shepell serves more than 8,000 clients, ranging from small businesses
to some of the largest corporations and associations in North America.
With approximately 3,000 employees in offices across North America,
Morneau Shepell provides services to organizations across Canada, in
the United States, and around the globe. Morneau Shepell is a
publicly-traded company on the Toronto Stock Exchange (TSX: MSI). For
more information, visit morneaushepell.com.
SOURCE: Morneau Shepell Inc.
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