Ontario Budget 2016

On February 25, 2016, the Ontario government tabled its 2016 Budget “Jobs for Today and Tomorrow” (“Budget”) and the corresponding Budget Bill, Bill 173, Jobs for Today and Tomorrow Act (Budget Measures), 2016 (“Bill 173”). In this FTR Now, we highlight some of the key proposals that are of particular interest to employers, human resources…

Ontario Government Announces Additional ORPP Design Details

Editor’s Note: Following publication of this communication, the Ontario government announced that the first wave of ORPP implementation will be delayed by one year to January 1, 2018. Please be sure to read our FTR Now of February 17, 2016 for updated information on this significant development, or contact your regular Hicks Morley lawyer for…

Deadline for Filing Amendments Relating to British Columbia’s PBSA Reform Extended

Significant reforms to the Pension Benefits Standards Act (“PBSA”) in British Columbia came into force on September 30, 2015. Originally, amendments to plans registered in British Columbia which reflect the new legislative requirements had to be filed by December 31, 2015. This week the British Columbia Financial Institutions Commission announced that the filing deadline will be extended to March 31,…

2015 Federal Election Update: ORPP or CPP – Which Will it be?

Editor’s Note: Following publication of this communication, the Ontario government announced that the first wave of ORPP implementation will be delayed by one year to January 1, 2018. Please be sure to read our FTR Now of February 17, 2016 for updated information on this significant development, or contact your regular Hicks Morley lawyer for…

Time Period for Filing Solvency Funding Relief Reports Extended

On June 20, 2013, the Ontario government filed O. Reg. 186/13 amending O. Reg. 177/11 (as amended by O. Reg. 330/12) which amended Regulation 909 (General) made under the Pension Benefits Act. As previously reported, the definition of “solvency concerns” sets out the circumstances under which defined benefit pension plans are required to file annual actuarial…

New Brunswick Introduces Bill to Amend Pension Benefits Act

On December 11, 2012, Bill 20, An Act to Amend the Pension Benefits Act, received First Reading in the Legislative Assembly of New Brunswick. It received Second Reading on December 12, 2012. If passed, Bill 20 will, among other things, amend the Pension Benefits Act (“Act”) to make the following clarifications regarding shared risk pension…