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ARTICLE · 12 APRIL 2023

2023 Federal Budget: Selected Pensions, Benefits And Executive Compensation Measures

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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On March 28, 2023, the federal government tabled its 2023 budget (2023 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
Blakes Pensions, Benefits & Executive Compensation
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On March 28, 2023, the federal government tabled its 2023 budget (2023 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 2023 Budget, which are discussed in further detail below:

RETIREMENT COMPENSATION ARRANGEMENTS

A retirement compensation arrangement (RCA) is an employer-sponsored arrangement that can be used by employers to provide supplemental pension benefits to employees. RCAs can be funded through contributions to an RCA trust, in which case a refundable tax is imposed at a rate of 50 per cent on contributions to the RCA trust, as well as on income and gains

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