CAPSA Releases Guideline on Defined Contribution Pension Plans

On March 28, 2014, the Canadian Association of Pension Supervisory Authorities (“CAPSA”), the association which represents all Canadian pension regulators, released the final version of Guideline No. 8: Defined Contribution Pension Plans, (“DC Guidelines”) along with an accompanying reference document. The DC Guidelines were issued following the circulation of a draft version and extensive public…

Ontario Proposes Significant Regulatory Amendments under Pension Benefits Act

On April 25, 2014, the Ontario government announced a number of proposed amendments to Regulation 909 made under the Pension Benefits Act (“PBA”), further to its ongoing pension reform initiatives. The government is inviting comments from stakeholders on the following proposals: Proposed Amendment to Regulation 909 under the Pension Benefits Act: Disclosure of Environmental, Social…

Federal Government Consults Public on Proposed Target Benefit Plans Framework

On April 24, 2014, the federal government announced the launch of consultations on a potential federal framework for Target Benefit Plans (“TBP”). TBPs, if introduced through subsequent legislative reforms, would create a new pension design option available to federally regulated private sector and Crown corporation plan sponsors under the Pension Benefits Standards Act, 1985 (“PBSA”)….

Alberta Introduces Additional Pension Reforms

On April 16, 2014, the Alberta government introduced Bill 10, Employment Pension (Private Sector) Plans Amendment Act, 2014. Bill 10, if passed, will further amend the new Employment Pension Plans Act (“EPPA”). These proposed reforms are in addition to the amendments set out in Bill 10, Employment Pension Plans Act, which received Royal Assent on December…

Federal Government Introduces 2014 Budget Bill

On March 28, 2014, the federal government introduced Bill C-31, the Economic Action Plan 2014 Act, No. 1, omnibus legislation intended to implement a number of initiatives first announced in the 2014 federal Budget, Economic Action Plan 2014. Bill C-31 contains a number of measures we previously reported in our February 13, 2014 FTR Now,…

Federal Government Implements Transitional Pension Funding Relief Regulations (Canada Post)

On March 12, 2014, the federal government published final pension funding relief regulations temporarily relieving Canada Post Corporation from the requirement to make special payments to its defined benefit employee pension plan, as ordinarily required under the Pension Benefits Standards Act, 1985 (“PBSA”). Under the Canada Post Corporation Pension Plan Funding Regulations (“Regulations”), the Corporation will only…

B.C. Court of Appeal Stays Decision Rendering Teachers’ Collective Bargaining Legislation Unconstitutional, Pending Appeal

In our blog post of February 18, 2014, “British Columbia Supreme Court Awards $2 Million in Damages for Freedom of Association Violation,” we reported that the B.C. Supreme Court declared Bill 22, legislation relating to teachers’ collective bargaining rights, unconstitutional. The Court concluded that this legislation was “essentially identical” to earlier legislation (Bill 28) that…

Finding of Charter violation leads to $2 million award against the B.C. government

In British Columbia Teachers’ Federation v. British Columbia, the B.C. Supreme Court awarded $2 million in damages against the B.C. Government for its violation of the freedom of association guarantee found in section 2(d) of the Canadian Charter of Rights and Freedoms (“Charter“). The British Columbia Teachers’ Federation (“BCTF”) successfully argued that legislation enacted by…