This and other subjects are included in the current issue of the Morneau Shepell monthly publication, News & Views
TORONTO, May 16, 2016 /CNW/ - In the May 2016 issue of its monthly newsletter, News & Views, Morneau Shepell provides a detailed look at several new provincial pension related measures.
- Québec: Retraite Québec provides details about the new rules – The RQ website now has a new section called Private-sector pension plans, which explains the new rules pursuant to Bill 57, including those affecting additional pension benefits and partial payments. Morneau Shepell summarizes the new rules.
- Ontario: more details on ORPP – The Ontario Government has announced additional design details regarding the Ontario Retirement Pension Plan (ORPP) and introduced the new Ontario Retirement Pension Plan Act (Strengthening Retirement Security for Ontarians), which builds on previously enacted ORPP legislation. The announcement reiterates previously announced design details but includes some new information.
- Ontario: new guidance for interest on late pension payments – The Financial Services Commission of Ontario (FSCO) issued guidance on the crediting of interest on late pension payments to Ontario pension plan members. FSCO's guidance should be considered by administrators of pension plans making payments to retired Ontario members.
- Tracking the funded status of pension plans as at April 30, 2016 – Morneau Shepell summarizes the new proposed legislative requirements for a conversion from a defined benefit (DB) pension plan to a target benefit pension plan (TBP).
- Impact on pension expense under international accounting as at April 30, 2016 – Impact on pension expense under international accounting as at April 30, 2016.
About Morneau Shepell Inc.
Morneau Shepell is the only human resources consulting and technology company that takes an integrative approach to employee assistance, health, benefits and retirement needs. The Company is the leading provider of employee and family assistance programs, the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada. 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 approximately 20,000 clients, ranging from small businesses to some of the largest corporations and associations in North America. With almost 4,000 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 - Pension/Retirement
For further information: Nathan Gibson, Manager, Corporate Communications, Morneau Shepell, 416-390-2641, [email protected]