On November 15, 2012, the Ontario government filed O. Reg. 364/12, which amends Regulation 909 made under the Pension Benefits Act (“PBA”) and implements the framework for letters of credit under the yet to be proclaimed section 55.2 of the PBA. Section 55.2 of the PBA will allow the use of letters of credit in…
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Morneau Report on Pooling of Pension Fund Assets in BPS Released
On November 16, 2012, the Ontario government released “Facilitating Pooled Asset Management for Ontario’s Public-Sector Institutions,” a report from Pension Investment Advisor, William Morneau, to the Deputy Premier and Minister of Finance (“Morneau Report”). As previously reported, the Ontario government appointed Mr. Morneau further to its Budget 2012 initiatives, specifically to develop recommendations for the…
Federal Committee Considers Bill Requiring Disclosure of Information by Labour Organizations
On November 7, 2012, Bill C-377, An Act to amend the Income Tax Act (Requirements for labour organizations) was considered before the House of Commons Standing Committee on Finance. Bill C-377 is a private member’s bill which, if passed, will amend the Income Tax Act to require labour organizations to file a public information return…
HRTO finds applicant breached confidentiality provision of settlement
The Human Rights Tribunal of Ontario recently found that an applicant breached the confidentiality provisions of her human rights settlement when she posted information about the settlement on Facebook. When the respondent learned of the breach, it refused to pay the monies owing under the settlement, and the applicant brought an application before the Tribunal…
Accommodation and the Special Needs Child: The Supreme Court of Canada Decision in Moore
The Supreme Court of Canada has released an important decision which reaffirms some of the key principles in the accommodation process. The issues in Moore v. British Columbia (Education) arose from the financial choice made by a British Columbia School District in the provision of services. The Court’s criticism of the failure of that District…
Pinto Report on Ontario Human Rights Review Released
On November 8, 2012, the Ontario government released the long-awaited “Report of the Ontario Human Rights Review 2012” (the “Report”), which reviews the changes made to the Ontario Human Rights Code (the “Code”) in 2008. Andrew Pinto, author of the Report, sets out several recommendations with respect to streamlining the existing system. This FTR Now…
Pension Solvency Funding Relief Is Here…Again
INTRODUCTION On November 1, 2012, important amendments were made to the Pension Benefits Act Regulation 909 (the “Regulation”). The amendments extend the temporary solvency relief measures for eligible defined benefit pension plans and make housekeeping changes to the sections requiring defined benefit pension plans to file annual, rather than triennial, actuarial valuations. This FTR Now…
Ontario Court of Appeal Decision Rewrites the Pension Pre-Retirement Death Benefit Regime
On October 31, 2012, a majority of the Ontario Court of Appeal awarded the pre-retirement death benefit payable under an Ontario registered pension plan to a member’s designated beneficiaries rather than to his common law spouse. The majority’s decision in Carrigan v. Carrigan Estate (“Carrigan”) is a departure from the pension industry’s widely held interpretation…
New Solvency Funding Relief Regulations Filed
On November 1, 2012, the Ontario government filed O. Reg. 329/12 and O. Reg 330/12, each of which amends Regulation 909 (General) made under the Pension Benefits Act. Further to the government’s Budget 2012, O. Reg 329/12 extends temporary solvency funding relief measures for private sector defined benefit pension plans, as first introduced in 2009…
Helping Families in Need Act Reported Back to House of Commons
On November 2, 2012, Bill C-44, Helping Families in Need Act, was reported back to the House of Commons without amendment by the Standing Committee on Human Resources, Skills and Social Development and the Status of Persons with Disabilities. As previously reported, if passed Bill C-44 will, among other things, make certain amendments to the…