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Archived News

  1. New Regulations set out in Bill C13 specify that the PSPA (and therefore, the required qualifying transfer to be made out to the IPP on plan implementation) is based on the Member's total RRSP (also including RRIF and DC RPP) account prorated over the period from age 18 to current age up to a maximum of 35 years. Thus, the revised rules will only impact a connected person who has a relatively high RRSP balance. (Nov 22, 2011)

  2. The Westcoast Actuaries Team participated in the Scotiabank Charity Challenge event held on June 26, 2011. Thanks for all the support and donations from our friends. We have raised $2,445 for the Canadian Red Cross. Please click here to see the photo. (June 30, 2011)

  3. 2011 Federal Budget Update Proposed Changes to Individual Pension Plans (IPPs)
    Please click here to see Westcoast Actuaries' commentary. (June 7, 2011)

  4. Westcoast Actuaries Inc. is participating in the Scotiabank Charity Challenge and supporting the Canadian Red Cross. Living in the beautiful and vibrant city of Vancouver, we strongly believe that we should contribute by aiding both our community and our world in difficult times.

    The Canadian Red Cross is instrumental in providing emergency relief and long-term reconstruction assistance in Canadian disaster areas such as the floods in Manitoba and fires in Slave Lake, Alberta. By providing household repair, clean-up materials and replacement items for children such as cribs, occupational and transportation support and replacement of essential health items, The Canadian Red Cross greatly supports families in their recovery.

    The Canadian Red Cross is also heavily involved in raising funds to be used for assistance in internationally ravaged areas, such as the earthquakes in Japan and Haiti. Generous Canadians have raised $5 million for relief efforts in Japan.
    Please click here to donate and support us. (June 2, 2011)
  5. March 22, 2011 Federal Budget Proposed changes to IPPs – Voice your concerns to our Government
    The Federal Budget tabled on March 22, 2011 proposed changes to IPPs which could under certain circumstances significantly reduce the tax advantages of future new IPPs. Westcoast Actuaries, together with a group of Canadian actuaries who practice in the IPP area have put together a joint submission which has been delivered to the Minister of Finance and his Deputy expressing our concerns.

    We feel that this proposed amendment to the Income Tax Act can be removed from the Budget proposals if there is enough support for this deletion. We encourage you to read our commentary and the joint submission and would ask you to please write or send an email to your local member of parliament, the Minister of Finance and his Deputy as well as the Prime Minister (enclosing a copy of the submission) requesting them to remove this measure from the new budget, which will be presented in June. (May 12, 2011)
  6. The 2011 Federal Budget was presented on March 22, 2011.
  7. Although the Conservative Government has been dissolved, there is a chance that the proposed changes on IPPs which were mentioned in the Budget Papers be reintroduced retroactive to the original March 22, 2011 date. We invite you to visit our website for our 2011 Federal Budget Commentary on IPPs and find out how these potential changes in the budget may affect your clients who might be thinking of, or are in the process of implementing new IPPs. (April 26, 2011)
  8. The 2011 IPP Online Quoting System © is available. (January 06, 2011)
  9. The IPP Pension Adjustment(PA) Calculator© is ready for you to determine 2010 PAs. (October 10, 2010)
  10. The 3rd Quarter Issue of 2010 Westcoast Actuaries' News Letter is ready for you to download. (September 30, 2010)
  11. Stephen Cheng, our Managing Director and Senior Consulting Actuary, presented at the B.C. Medical Association Annual General Meeting on June 12, 2010 at the Four Seasons Hotel in Vancouver on the subject of Individual Pension Plan (IPP). For a copy of the Power-point presentation slides, please click here.

    Individual Pension Plan (IPP) is the most tax-efficient and tax-effective strategy for business owners and incorporated professionals to achieve their pension and retirement savings objectives through their corporation. As illustrated in the case study near the end of the IPP presentation at the BCMA AGM, an individual who established three years ago as at January 1, 2007 with full past service recognition for the years 1991 to 2006 would have $747,000 more of registered plan assets under the IPP strategy as compared to an RRSP-only strategy for retirement savings. (June 2010)

  12. Read Westcoast Actuaries’ submission to the Department of Finance – Ensuring the Ongoing Strength of Canada’s Retirement System. (April 2010)
  13. The 2nd Quarter Issue of 2010 Westcoast Actuaries' News Letter is ready for you to download. (April 01, 2010)
  14. The 2010 IPP Implementation Forms are ready for you to download. (January 18, 2010)
  15. The 2010 IPP Online Quoting System © is available. (January 08, 2010)
  16. The new IPP Pension Adjustment(PA) Calculator© is ready for you to determine 2009 PAs. (December 04, 2009)
  18. Stephen Cheng, Managing Director and Senior Consulting Actuary of Westcoast Actuaries Inc., presents Individual Pension Plan (IPP) in the June 2009 issue of Video Tax News. (June 24, 2009)
  19. The RPD of CRA issues Compliance Bulletin No. 6 - copy of bulletin with comments from Westcoast Actuaries available. (June 2009)
  20. Alberta, Ontario and Saskatchewan issue temporary solvency relief funding rules. (June 2009)
  21. The new 2009 IPP On-Line Quoting System© is available. (January 5, 2009)
  22. The new IPP Pension Adjustment(PA) Calculator© is ready for you to determine 2008 PAs. (December 15, 2008)
  23. Westcoast Actuaries Inc. is pleased to introduce Mr. Steve O'Grady as our new Senior Consulting Actuary, to replace our former actuary, Ian Baker.
    Mr. O'Grady has over 30 years of experience in actuarial and pension consulting. (August 05, 2008)
  24. Meeting the primary purpose test for a registered pension plan – Financial Post, Wednesday. (September 26, 2007)
    please click here for a copy of the full article.
  25. Westcoast Actuaries Inc. in the News – CJOB Radio (Winnipeg) (September 15, 2007)
    Our consulting actuary was interviewed on CJOB Radio (Winnipeg) on Saturday, September 15, 2007 by Patrick Cooney of Jory Capital Inc. This 7-minute interview provides a general overview of Individual Pension Plans and can be heard by clicking here. (We recommend that you download the recording to your local computer instead of hearing it directly online if you have a slow internet connection.)
  26. Westcoast Actuaries Inc. in the News – Financial Post, Monday (August 20, 2007)
    Please click here for the full article.
  27. Westcoast Actuaries Inc. has changed its logo starting August, 2007. (August 01, 2007)
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  28. The 2007 Federal Budget received Royal Assent on June 22, 2007. Please refer to the Department of Finance website. Click here for the link.
  29. Westcoast Actuaries Inc. has moved into downtown Vancouver. (March 23, 2007)
  30. Westcoast Actuaries Inc. revised 2007 IPP FAQ now available. (January 09, 2007)

  31. July 9, 2003 - The federal pension regulator (Office of the Superintendent of Financial Institutions, Canada or OSFI) has sent a letter to Air Canada outlining issues that they wish to have addressed with respect to the Air Canada Pension Plans during discussions scheduled to begin July 22nd.  Click Here for a copy of the letter as well as other documents concerning Air Canada Pension Plans available at OSFI's website.
  32. May 14, 2003 - The Alberta government has passed an amendment to the Employment Pension Plans Regulation that will allow locked-in fund owners to apply for permission to unlock their account. This amendment applies to all Alberta locked-in RRSPs, Locked-in Retirement Accounts (LIRA), Life Income Funds (LIF), and Locked-in Retirement Income Funds (LRIF).

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