Mississauga :  Telephone 905 238-6723   Email  info@groupforce.ca      Montréal :  Telephone 514 352-6723   Email  info@groupeforce.ca

NEWS

Group insurance  Insurance Journal


Release date : February 23, 2017

Groupe Force will rely on transparency to establish itself in collective and social benefits. Read the article in the Insurance Journal to learn more.


Taxation Update - Québec Provincial Government


Release date : February 2015

Further to January's bulletin, please see details below.

The Québec Provincial Government has announced changes to taxability in their economic update last December. Group Benefit Insurance Plans will be affected as a result of these changes.

  • Increase to the tax on insurance carrier capital : from 2% to 3% capital of insurance companies: from 2% to 3%
  • Increase to financial institutions compensatory tax : from 0.30% to 0.48%
  • Combined, both taxes will increase from 2.30% to 3.48%

These taxes are already included in insurance carrier administration fees, which will be increased accordingly as a result of the above changes.

Details by carrier for all insured groups

Croix Bleue : The increase will be at renewal, retroactive to 12/2014
Desjardins : The increase will be at renewal, retroactive to 12/2014
Empire Life : The increase will be applied April 2015 for all groups
Great West : The increase will be at renewal, without retroaction
Industrielle Alliance : The increase will be applied March 2015 for all groups
Manuvie : The increase will be at renewal, retroactive to 12/2014
SSQ : The increase will be applied March 2015 for all groups
Standard Life : The increase will be at renewal, retroactive to 12/2014
Sun Life : The increase will be applied March 2015 for all groups