Employer pension and benefit plans have direct impact on retiring baby boomers

Canadian Payroll Association seminars help build pension and benefits compliance knowledge

TORONTO, March 6, 2014 /CNW/ - As more baby boomers leave the Canadian workforce, employer pension and benefit plans are increasingly being relied upon to provide retirement income. Organizations must follow legislative requirements ─ from enrolment right through retirement ─ to mitigate the risk of non-compliance, says the Canadian Payroll Association.

"Pension and benefit plans have their own legislation and reporting requirements and significant risks and penalties for non-compliance," says Janet Spence, Manager, Compliance Services and Programs for the Canadian Payroll Association. "With frequent changes to legislation and regulations, employers must safeguard against unnecessary and costly compliance errors."

The Canadian Payroll Association offers pension and benefits seminars for accounting, payroll, finance and human resources professionals who recognize the value of pension and benefit compliance knowledge. Seminars across Canada are open to Association members and non-members at all levels.

Pensions and Benefits from a Payroll Perspective
Provides an introduction to employer-sponsored plans, government programs, calculating and reporting pension values, individual retirement savings and benefit plans.

Advanced Pension Case Studies from a Payroll Perspective
Offers real-life examples of complex pension plan enrolments, deductions and reporting within defined benefit and defined contribution pension plans, as well as deferred profit sharing plans and registered retirement savings plans.

Best Practices of Employee Group Benefits
Teaches participants how employee benefits plans are built, how to permanently lower benefits costs and how to introduce wellness programs to lower long-term costs.

About the CPA:
The Canadian Payroll Association is the authoritative source for Canadian payroll knowledge, professional development, advocacy and professional certification.  The Association has influenced the payroll compliance practices and processes of hundreds of thousands of employers since 1978. Payroll professionals in 1.5 million organizations across Canada are responsible for ensuring the timely and accurate payment of $860 billion in wages and taxable benefits, $268 billion in statutory remittances to the federal and provincial governments and $94 billion in health and retirement benefits, while complying with more than 190 regulatory requirements. For more information on the Canadian Payroll Association's Professional Development Seminars, Certification Programs, and the Benefits of Membership visit payroll.ca.

Image with caption: "The Canadian Payroll Association is the authoritative source for Canadian payroll knowledge, professional development, advocacy and professional certification. (CNW Group/Canadian Payroll Association)". Image available at: http://photos.newswire.ca/images/download/20140306_C9620_PHOTO_EN_37645.jpg

SOURCE: Canadian Payroll Association

Hélène Robitaille, Communications Coordinator, [email protected] [phone] x 139