Pension plans that meet the definition of specified Ontario multi-employer pension plans (SOMEPPs) are one step closer to having the option to convert accrued defined benefits (DB) to target benefits (TB) – and one step closer to a permanent exemption from solvency funding. If your organization participates in a SOMEPP, find out what this could mean for your organization in this FTR Now.
Author: Hicks Morley
Bill 148 and Collective Bargaining in the Social Services Sector
Many Social Services agencies across Ontario are currently in collective bargaining, or will be shortly. With key Bill 148 amendments to the Employment Standards Act, 2000 (ESA), the Labour Relations Act, 1995 (LRA) and the Occupational Health and Safety Act now in force, planning your strategic approach is essential to achieving outcomes that will work for your organization, and support your mandate. Learn how you can prepare for the bargaining table in this FTR Now..
Ontario Budget 2018
On March 28, 2018, the Ontario government tabled its 2018 Budget, A Plan for Care and Opportunity and introduced Bill 31, the Plan for Care and Opportunity Act (Budget Measures), 2018. The Budget outlines key initiatives around retirement security and pension reform, healthcare, education, further initiatives to specifically address gender equality issues, representation of women, and more…
Federal Budget 2018
On February 27, 2018 the federal government tabled its 2018 Budget, Equality & Growth: A Strong Middle Class (Budget). The Budget contains several key initiatives, including a new Employment Insurance parental sharing benefit, the permanent extension and expansion of the Employment Insurance Working While on Claim pilot project…
Ontario Seeks Comments on Proposed New Funding Rules for PBGF Assessments
Much anticipated proposed regulatory amendments respecting the formula for calculating Pension Benefits Guarantee Fund (PBGF) assessments were published by the Ontario government on January 19, 2018 (Proposed Regulations). With unproclaimed amendments to the Pension Benefits Act (Ontario) set to enhance PBGF protection by increasing the guarantee from $1,000/month to $1,500/month, the proposed changes to the PBGF assessment formula are intended to maintain the viability of the PBGF.
Employers Take Note: New ESA Poster Published by the Ministry of Labour
In light of the changes to the Employment Standards Act, 2000 (ESA) brought about by Bill 148, the Fair Workplaces, Better Jobs Act, 2017, the Ministry of Labour has published a revised version of the ESA poster (Version 7.0) which is required to be posted by employers in a conspicuous place…
Ringing in the New Year with New Pension Plan Funding Rules
This FTR Now describes the Funding Framework and the likely transitional rules that will be of considerable interest for employers when planning for 2018 and beyond, as well as related complementary measures.
Ontario Passes Key Healthcare Reforms to Expand LHIN Framework and Integrate Frontline Patient Service Delivery
Ontario is implementing a number of key reforms to the Local Health Integration Network and health services provider system – and the way frontline patient services are delivered across the province…
New Multi-Jurisdictional Pension Plan Agreement Now in Effect
Parties involved in the administration of pension plans have been waiting for Canadian pension regulators to agree to a new set of rules applicable to plans with members in more than one province. Recently, the governments of British Columbia, Nova Scotia, Ontario, Quebec and Saskatchewan signed a new Agreement Respecting Multi-Jurisdictional Pension Plans, which took effect July 1, 2016 (2016 Agreement)…
The Latest Update on WSIB Rate Framework Modernization
As we previously reported the Workplace Safety and Insurance Board (WSIB) proposed a new Rate Framework Modernization (Proposed Framework) in March 2015 which, if adopted, would fundamentally change the way the WSIB classifies Schedule 1 employers and sets their premium rates…