Workers Compensation Board (WCB) of Prince Edward Island implements updated first aid regulations
The Workers Compensation Board (WCB) of Prince Edward Island is set to introduce updated workplace first aid requirements on January 1, 2025. These changes align with the Canadian Standards Association guidelines to ensure consistency and improved safety across workplaces in the province. The updates will mandate that first aid training and kits be tailored based on the level of risk within a workplace.
Canada Post operations to resume
The Canada Industrial Relations Board has declared an impasse between the two parties and ordered postal workers to return to work under their existing contracts, which have been extended until May to allow bargaining to continue. In the meantime, Canada Post and the union have agreed to a five percent wage increase, retroactive to the day following the expiration of the collective agreements.
OSFI updates variable benefit account maximums under PBSA for 2025
The Office of the Superintendent of Financial Institutions (OSFI) has updated the table outlining the maximum annual income that can be withdrawn from a variable benefit account and life income fund to include the factors applicable for 2025. This maximum withdrawal limit is designed to ensure that the account or fund provides a sustainable retirement income for the holder or their survivor, lasting until at least age 90.
