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ARTICLE · 13 APRIL 2022

2022 Federal Budget: Selected Pensions, Benefits And Executive Compensation Measures

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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On April 7, 2022, the federal government tabled its 2022 budget (2022 Budget), which included a number of provisions related to pensions, benefits and executive compensation, as summarized below.

CanadaEmployment and HR
Blakes Pensions, Benefits & Executive Compensation Group
Blakes Pensions, Benefits & Executive Compensation Group
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On April 7, 2022, the federal government tabled its 2022 budget  (2022 Budget), which included a number of provisions related to pensions, benefits and executive compensation, as summarized below.

Here is an overview of the key provisions in the 2022 Budget, which are discussed in further detail below: 

  • Borrowing by Defined Benefit Pension Plans
  • Fixing Contribution Errors in Defined Contribution Pension Plans
  • Strengthening the Federal Pension Framework
  • Climate Disclosure for Federally Regulated Institutions
  • Reporting Requirements for Providers of RRSPs and RRIFs

BORROWING BY DEFINED BENEFIT PENSION PLANS

The 2022 Budget proposes to amend the borrowing rules in the Income Tax Regulations (ITR), effective April 7, 2022, to provide more borrowing flexibility to administrators of defined benefit registered pension plans (RPPs) (other than individual pension plans).

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