CNW

Drug shortages and discontinuances are a source of tremendous concern and anxiety

– Many Canadians have health conditions that require the ongoing use of medication. For these individuals and their families, drug shortages and discontinuances are a source of tremendous concern and anxiety. The Government of Canada is committed to doing its part to address this complex issue.

Today, Health Canada moved a step closer to mandatory public reporting for drug companies experiencing shortages and discontinuances, by inviting prequalified contractors to submit proposals to develop and maintain a website for the reporting of this information.

The new website will eventually replace the current industry-run site drugshortages.ca. When completed, the site will include a number of improvements from the voluntary system, such as better notification features and a mobile application. In addition, the site will also provide information for healthcare providers and patients, including shortage management toolkits and guidance materials.

During consultations, Canadians said that the current voluntary approach to reporting is not meeting their needs, and called for mandatory reporting. As a result, a regulatory proposal has been developed and consulted on with the public, and the department is working toward finalizing these regulations in summer 2016, through publication in Canada Gazette, Part II.

During this process, Health Canada will continue to work with players from across the drug supply chain, including our provincial and territorial partners to confirm the details and status of shortages, coordinate information sharing, and identifying collaborative mitigation strategies.

This collaborative approach has already yielded many positive results. By continuing to work together, we are finding new creative ways to help ensure Canadians are able to access the medications they need when they need them.

By Jason Clemens
Executive Vice President, Fraser Institute

There is confusion regarding the rates of return earned by the Canada Pension Plan Investment Board (CPPIB), which manages the investable funds of the Canada Pension Plan (CPP) with the returns received by individual Canadian workers in the form of CPP retirement benefits. The returns of the CPPIB do not in any direct way influence the CPP retirement benefits received by individual Canadian workers. CPP retirement benefits are basically determined by the number of years a person works, their earnings in each year (relative to the maximum under the CPP), and the age at which they retire. The returns to the CPPIB, however, do benefit workers and retirees indirectly. Specifically, the returns earned by the CPPIB can reduce the need for higher contribution rates. In addition, sustained over-performance by the CPPIB over time could allow for a reduction in the contribution rate and/ or an increase in the benefits paid. However, the opposite is also plausible, whereby under-performance by the CPPIB could necessitate higher contribution rates and/or reduced benefits. Based on the model employed in this paper (which assumes workers retire at age 65), the real rates of return enjoyed by Canadian workers from their CPP retirement benefits ranged from an incredible 45.5 percent in 1969 to just 3.6 percent in 2015.Specifically, there was an initial steep decline from the 45.5 percent real rate of return observed for retirees in 1969 to less than one-third that rate in 1989 (12.6 percent). By 2003, the real rate of return for CPP retirees was halved to 6.3 percent. By 2015, the real rate of return for CPP retirees had declined to 3.6 percent. The projected real rates of return for the CPP continue to fall to 2.1 percent for those retiring in 2037, stabilizing thereafter. In other words, Canadian workers retiring after 2036 (people born in or after 1972) can expect a real rate of return of 2.1 percent from the CPP. The rates of return noted above are further reduced if certain assumptions are changed. For example, making maximum contributions over the entire course of one’s working life (ages 18–65)—rather than assuming zero contributions for the first eight years (which are exempted from the retirement benefit calculation), as done in the first set of calculations—reduces the real rate of return to 1.7 percent for workers retiring in 2037 or later (compared to 2.1 percent).A different way to think about the returns received by Canadian workers from their CPP retirement benefits, particularly those borne after 1971, is to compare the expected rate of return (2.1 percent real rate of return) with the required real rate of return for the CPPIB of 4.0 percent. In other words, Canadian workers born after 1971 pay into a fund that must generate a 4.0 percent real rate of return to meet its obligations, a fund which provides a 2.1 real rate of return in the form of CPP retirement benefits. There are two principal reasons for the decline in the rates of return. The first is the difference in the periods of contribution for Canadian workers, particularly in the early years of the CPP. For instance, in the initial years of the plan, only ten years of maximum contributions were required to receive a full CPP benefit. That period is currently 39 years. The second principal reason for the decline in the rates of return is the increasing contribution rate to the CPP (i.e., the tax rate). The CPP was launched in 1966 with a contribution rate of 3.6 percent. The CPP contribution rate climbed steadily beginning in 1987, and stabilized at 9.9 percent in 2003. It’s worth noting that the stabilized CPP contribution rate is nearly three times higher than the original contribution rate of 3.6 percent.

(TLN)

Organized by the City of Laval’s public library network, a mega sale of books and used materials proved to be highly successful when it was held recently. Held on May 6 and 7 at the Cartier Arena, more than 4,000 people attended and $38,920.48 in sales were recorded by the staff.

During the annual event, library staff bring together books, magazines, CDs, DVDs, encyclopedias and many other materials coming from surplus library stock and donations made by citizens. This year more than 38,685 documents were on sale at a cost of $3 per kilo.

The money gathered is reinvested each year in cultural programs offered at branches of the Laval public library network during the fall, winter and summer. They include discussions, conferences, creative workshops, shows and training sessions in new technologies.

Unsold materials are offered free of charge to non-profit organizations in Laval which are recognized by the municipality. This year, 16 such organizations were able to benefit from these donated materials.

Jennifer Aniston’s Mother – Nancy Dow died today at the age of 79 years old.  She died after enduring a long illness.  Dow suffered a stroke in 2011 followed by a second stroke a year later, according to multiple reports. The mother of two (Jennifer & John) was married to Jack Melick from 1956 -1961 and soap star John Anthony Aniston who is a Greek-American actor. He was best known for his role as Victor Kiriakis on the NBC daytime drama Days of Our Lives, from 1965-1980.

Jennifer’s parents divorced when she was 9 years old.

Cicilia Laurent who celebrated her final birthday at the offices of the Haitian consulate in Montreal on Jan. 31, 2016 died a natural death.