News Archives - Dehoney Financial Group

Expanded Parental Leave Takes Effect Dec 3, 2017

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The much-anticipated legislation around Employment Insurance (EI) maternity benefits, parental leave, and caregiver benefits comes into effect Dec 3, 2017. This implementation date was recently announced by Jean-Yves Duclos, Minister of Families, Children and Social Development. The Canada Labour Code has been amended to include these recent changes. And, for employees in federally-regulated workplaces, they can choose the extended benefit option as of Dec 3, 2017, with job protection. For provincially-regulated workers, selecting the 18-month option as of Dec. 3, will not have the same job protection until their province or territory amends their individual […]

Saving for retirement is not easy

Education

Are retirement saving plans secure?

Retirement saving plans have been making news headlines for a variety of reasons. One of those includes the security of pension plans when an employer runs into financial problems or is sold. Take for example the situation for workers at Sears Canada and Northstar Aerospace who may face a 19-24% reduction in pension benefits due to insolvency and layoffs. For all the details read more here.

Defined benefit and target benefit plans

Sears Canada has a defined benefit plan and Northstar Aerospace has a target benefit plan. Both […]

Rediscover the tax-saving ability of life insurance.

tax savings of life insurance

Over the past couple of weeks, a lot has been written about Finance Minister Bill Morneau’s proposal to fix the perceived unfairness in the way that private-business owners, family businesses, and incorporated professionals pay tax. While the proposal was not a surprise, it was the scope of the changes that many found alarming. In the days after the proposal became public, doctors’ associations, farmers, and small and medium-sized businesses have let the Minister and his government know that these changes will have a significant and negative effect on practicing doctors, the economy, and on the future of […]

Will modernizing the Patented Medicines Regulations in Canada lead to savings?

The Patented Medicines Regulations, those rules that govern the pricing of pharmaceuticals in Canada, are about to change. Many would suggest that it’s about time. There have been no substantive changes in over 20 years and Canada pays some of the highest drug prices when compared to countries of the Organisation for Economic Co-operation and Development (OECD). The United States and Mexico are the only two OECD countries that have higher patented drug prices than Canada.

The government’s proposal, titled Protecting Canadians from Excessive Drug Prices, sets out amendments to the current drug pricing regulations and may […]