This past Spring, the Ontario government released proposed amendments to Regulation 909 (the “Regulations”) of the Pension Benefits Act (“PBA”) in respect of four previously announced pension reform initiatives (“April Proposals”). The April Proposals – which described the content of the proposed changes to the Regulations – are summarized in our FTR Now of April…
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Court of Appeal Dismisses Overtime Eligibility Class Action Certification Appeal
On October 6, 2014, the Court of Appeal for Ontario unanimously dismissed an appeal from the Ontario Divisional Court’s decision[1] dated April 23, 2013 which in turn dismissed an appeal from a decision dated April 27, 2012, dismissing a motion for certification of a claim regarding eligibility for overtime pay as a class action.[2] The…
Disclosure Reforms and New Defined Contribution Payment Option for Federally Regulated Pension Plans
On September 19, 2014, the federal government released proposed amendments to the Pension Benefits Standards Regulations, 1985 (“PBSR”). Proposals relating to the pension investment rules that apply more broadly – to federally regulated pension plans[1] as well as pension plans that are regulated by the provincial pension legislation in Ontario, Alberta, British Columbia, Manitoba, Newfoundland…
Five PRPP-Licenced Insurers Now Registered for Implementation
On October 7, 2014, the federal government announced that the following five insurance companies have been given licences under the federal Pooled Registered Pension Plan (“PRPP”) framework and have been registered with the Office of the Superintendent of Financial Institutions and the Canada Revenue Agency: Sun Life, Great West Life, Manulife, Standard Life and Industrial-Alliance….
Municipal Elections 2014: Employers’ Obligation to Provide Paid Time Off to Vote
Province-wide municipal elections will be held on October 27, 2014, and voting hours will run from 10:00 a.m. to 8:00 p.m. Under the Municipal Elections Act, 1996, all employees who are eligible to vote in the election are entitled to three consecutive hours during voting hours on election day to cast their vote. To be…
Ontario Proposes Pension Regulations
On October 3, 2014, the Ontario government published proposed amendments (“Proposed Amendments”) to Regulation 909 of the Pension Benefits Act (“PBA”) that incorporate stakeholder feedback received in response to proposed amendments first published on April 25, 2014, as previously discussed. The government is inviting comments from stakeholders on the following new Proposed Amendments: Statements for…
Proposed Investment Rule Changes for Registered Pension Plans
On September 19, 2014, the Department of Finance Canada released proposed amendments to the federal Pension Benefits Standards Regulations, 1985 (“PBSR”). The proposed amendments would modernize the pension investment rules applicable to pension plans registered in many Canadian jurisdictions. Specifically, these changes will, if adopted as drafted, impact the investments that are permitted to be…
Long-Awaited Federal Pension Regulations are Proposed
On September 19, 2014, the federal government released long-awaited regulations for public comment that would, if adopted as drafted, implement significant reforms to the current framework governing federally-regulated private pension plans. Investment-related reforms will also have implications for Ontario regulated pension plans, and for pension plans regulated by other provinces where such jurisdictions have adopted…
Long-Awaited Federal Pension Regulations Are Proposed
On September 19, 2014, the federal government released long-awaited regulations for public comment that would, if adopted as drafted, implement significant reforms to the current framework governing federally regulated private pension plans. Investment-related reforms will also have implications for Ontario regulated pension plans, and for pension plans regulated by other provinces where such jurisdictions have adopted the federal…
Alberta Legislature Prorogues
On September 18, 2014, the Alberta government prorogued until November 17, 2014, bringing all business and legislation on the Order Paper before the Legislative Assembly to an end. The government’s announcement indicates that it does not intend to re-introduce Bill 9, the Public Sector Pension Plans Amendment Act or Bill 10, the Employment Pension (Private…