Category: Pension

New BC Pension Legislation & Regulatory Framework

To help people save for retirement the BC government approved the new Pension Benefit Standards Regulation Act (PBSR) this past May. Pensions are required to be administered in accordance with the Act by Sept 30, 2015 and to be filed before Jan 1, 2016. The purpose of these changes was to harmonize pension standards legislation […]

Company Pension shift reinforces need to plan for retirement

The growing shift away from  defined pension plans is reinforcing the need for Canadian to more actively plan for their  retirement, financial experts say.  For decades, most workers relied on a promise of how much they would receive in retirement from their company pensions, but that pension certainty is fading as many companies faced with […]

PRPP Introduced in B.C. but then Stalled

The Pooled Registered Pension Plan (aka PRPP) was getting closer to coming to fruition in British Columbia as per the February 28, 2013 announcement (see article below). However, on March 14, 2013, Bill 16 (the B.C. Pooled Registered Pension Plans Act) died on the order paper leaving a newly elected B.C. government to reintroduce another PRPP Act after the upcoming May […]

Recent PRPP Update

Further to our earlier post about Pooled Registered Pension Plans (PRPPs), a new voluntary large-scale defined contribution pension plan, the federal government has proposed further regulatory details about some of the potential rules and regulations. For all the proposed details, please visit the government website. Here are some highlights that affect you, the employer (and the PRPP […]

Pooled Registered Pension Plans (PRPPs)

Did you know? 60% of Canadians do not have a pension plan and that the current pool of CPP dollars is not enough to provide a pension for future retirees in Canada? The Changes The federal government recently introduced a framework for Pooled Registered Pension Plans (PRPPs).  The purpose of a PRPP is to provide […]

Happy National Employee Benefits Day!

The ENCOMPASS Benefits team wants to help spread the word – it’s National Employee Benefits Day today! National Employee Benefits Day acknowledges trustees, administrators, corporate benefits practitioners and professional advisors for our dedication to providing quality benefits and the important role we play in your colleagues’ well-being. We especially want to celebrate all Plan Administrators! We also want […]

Changes to the Canada Pension Plan (CPP)

Effective January 1, 2012, changes were made to the Canada Pension Plan (CPP). The following are some points to consider when thinking about your future and retirement planning. Recent changes include: You can start receiving CPP once you reach the age of 60 AND continue to work (if you choose). If you choose to continue working, you […]

New Benefits & Pension Consultant Joins Our Team

ENCOMPASS is pleased to welcome Cindy Danielson to our team. Cindy is committed to helping ENCOMPASS clients design and deliver cost-effective benefits and pension plans that positively contribute to employee satisfaction and retention. She has held HR and consulting positions at Nortel, Shaw and QHR Software. Education includes Human Resources and Business Management at the […]

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