CAPSA’s updated CAP guideline will impact plan sponsors, members
The Canadian Association of Pension Supervisory Authorities (CAPSA) has released an updated guideline for capital accumulation plans, introducing important changes to the responsibilities of plan sponsors and members. Last revised in 2004, the guideline outlines several key duties for plan sponsors, such as record-keeping and providing continuous education and communication to plan members.
New portability right applies to employers with employees in Québec
Effective September 22, 2024, the final provision of Law 25, An Act to modernize legislative provisions as regards the protection of personal information, will take effect, granting individuals a new right to data portability across both the private and public sectors. The law does not outline any exceptions, meaning this right applies to both employee and consumer data for individuals residing in Québec.
Bank of Canada drops plans to issue digital currency
Bank of Canada Governor Tiff Macklem highlighted significant uncertainty regarding the future impact of artificial intelligence on the economy, particularly in areas such as the labor market and price growth.
Québec’s new data portability law
Starting September 22, 2024, Québec's new data portability law will come into effect, adding further responsibilities for companies governed by the Act respecting the protection of personal information in the private sector (“Québec Privacy Act”). This law applies to "any person carrying on an enterprise" who holds personal information about another individual.
