On August 11, 2015, the Ontario government released new details about the Ontario Retirement Pension Plan (“ORPP”) and its implementation. As previously reported, the ORPP was announced in the 2014 Ontario Budget. A consultation paper entitled “Ontario Retirement Pension Plan: Key Design Questions” was released in December, 2014 for public comment. In particular, the paper…
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FSCO Invites Public Consultation on Recent Changes to SIPP Requirements
On June 30, 2015, the Financial Services Commission of Ontario (“FSCO”) posted Investment Guidance Notes on Environmental, Social and Governance Factors (ESG) and Statements of Investment Policies and Procedures (SIPPs) for Member Directed Defined Contribution Plans for public consultation prior to being finalized. Investment Guidance Notes set out the expectations of FSCO regarding the investment…
Union Financial Disclosure Bill Receives Royal Assent
On June 30, 2015, Bill C-377, An Act to amend the Income Tax Act (requirements for labour organizations), received Royal Assent. Bill C-377, a private member’s bill, requires unions to file certain financial information with the Canada Revenue Agency (“CRA”) within six months from the end of each fiscal period. Among other things, information to…
New Police Record Checks Reforms Introduced
On June 3, 2015, the Ontario government introduced Bill 113, the Police Record Checks Reform Act, 2015, legislation that would, if passed, implement a new process governing requests for searches of the Canadian Police Information Centre databases, or other police databases, in connection with screening an individual for certain purposes. Among other things, the Bill would: authorize…
Federal Government Announces Possible Canada Pension Plan Expansion
On May 26, 2015, the federal government announced that it will conduct public consultations regarding potential changes to the Canada Pension Plan (“CPP”) to allow Canadians to voluntarily contribute more. No details were released at the time of the announcement. We will continue to monitor any developments regarding a possible expansion of the CPP.
SCC Clarifies Test for Qualifying as an Expert Witness
Expert evidence has been a hot topic in Canadian law recently. Following this trend, in White Burgess Langille Inman v. Abbott and Haliburton Co., the Supreme Court of Canada considered the duty owed by an expert witness to the court to be independent, impartial and unbiased. The Court clarified that where an expert is “unable”…
2015 Ontario and Federal Budgets Released
On April 23, 2015, the Ontario government tabled the 2015 provincial Budget, “Building Ontario Up” (“Budget”) and Bill 91, Building Ontario Up Act (Budget Measures), 2015 (“Bill 91”), supporting omnibus legislation designed to implement some of the proposals contained in the Budget. We are in the process of reviewing the Budget and Bill 91, and…
FSCO Updates Form 1 (Pension Plan Registration), Asset Transfer FAQs
On April 7, 2015, the Financial Services Commission of Ontario (“FSCO”) published a revised Application for Registration of a Pension Plan, Form 1 and added new frequently asked questions for plan administrators (“FAQs”) with respect to Multi-Jurisdictional Pension Plan Asset Transfers, among other things. The Form 1 has been updated to provide FSCO with additional…
New Holiday Pay Provisions Now in Effect
As we reported in our January 2015 FTR Now, significant reforms to the general holiday pay provisions of Part III of the Canada Labour Code come into force effective March 16, 2015. Federally regulated employers are reminded that the amendments include the introduction of a new “holiday pay” formula and the elimination of certain qualifying requirements….
Committee To Hold Public Hearings on ORPP Bill
The Standing Committee on Social Policy will hold public hearings in Toronto on Bill 56, the Ontario Retirement Pension Plan Act, 2015 (“ORPP Bill”) commencing March 23, 2015. Hearing dates will continue on March 24, March 30 and March 31, 2015. Interested persons who wish to be considered to make an oral presentation on Bill…