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Income Trust Governance: Alberta Leads the Way
On July 28, 2004, Alberta Revenue released a Discussion Paper seeking feedback from stakeholders regarding proposals to improve the governance framework of income trusts. If implemented, Alberta Revenue’s proposals will significantly improve the governance of income trusts and the protection of income trust investors. This would be of substantial benefit to institutional investors such as pension funds.
Ontario Auto Insurance Reform: Who Will Bear the Cost?
In August 2004, the Ontario government released its proposals for changing the provincial auto insurance system in Ontario Auto Insurance: A Proposal for Customized Coverages (Consultation Paper). While reducing the high cost of car insurance is a laudable goal, some of the Consultation Paper’s proposals may not produce the expected cost savings, and may actually increase the financial burden borne by the provincial government.
Providing Choice: Ontario to End Mandatory Retirement
Ending mandatory retirement has been on the Ontario government’s “to do list” for some time. In August 2004, the new Liberal Ministry of Labour released “Providing Choice: A Consultation Paper on Ending Mandatory Retirement”. In a submission responding to questions raised in the Consultation Paper, Watson Wyatt supports the Ontario government’s commitment to end mandatory retirement. There are, however, a number of practical issues specifically related to pension and benefits that could be problematic if they are not covered off in governing legislation and regulations.
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