Diversity on corporate boards has been widely discussed in recent years. On March 22, 2018, Bill C-25, An Act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act, and the Competition Act, passed its third reading in the Senate. Part 1 of Bill C-25 imposes obligations on federal…
Industry: Financial Services
Regulations Filed Supporting Discharge of Pension Plan Administrator Upon Purchase of Annuities
On April 3, 2018, the government filed O. Reg. 193/18 (Purchase of Pension Benefits From an Insurance Company – Section 43.1 of the Act) under the Pension Benefits Act (PBA), which complements the recent funding reforms announced for defined benefit pension (DB) plans (the Regulation). As previously discussed, the government proposed rules to support a discharge…
MOL’s ESA Guide Update for Equal Pay Provisions
We recently reported on the coming into force of the equal pay for equal work changes under Bill 148, Reminder: Equal Pay for Equal Work Provisions in Force April 1, 2018. The Ministry of Labour has recently updated its online Guide to the Employment Standards Act, 2000 (Guide) to address equal pay for equal work…
2018 Ontario Budget Tabled
On March 28, 2018, the Ontario government tabled its Budget 2018, A Plan for Care and Opportunity. We are currently reviewing the Budget and an FTR Now highlighting initiatives of particular interest to employers, human resource professionals and pension plan administrators will be available shortly on our website.
OSFI Publishes Guidance Note for Member Choice DC Plan Default Investments
The Office of the Superintendent of Financial Institutions (OSFI) has published a new Guidance Note providing its interpretation and expectations relating to the requirements for the default investment selected by the administrator. The Guidance Note (Default Option for Member Choice Defined Contribution Plans) relates to defined contribution (DC) accounts or additional voluntary contribution accounts in…
Appellate Court Confirms Employer not Liable for Defamation for a Negative Reference Where the Reference is True
The Divisional Court has affirmed that an employer is not liable for defamation where a candid and truthful reference about a former employee has been provided. In Papp v Stokes et al, the plaintiff had sued his former employer (Stokes Economic Consulting) and its President (Ernest Stokes) for defamation, wrongful dismissal, punitive, exemplary and aggravated…
Ontario Re-Introduces Pay Transparency Legislation
On March 20, 2018, the Ontario government reintroduced its pay transparency legislation in the form of Bill 3, Pay Transparency Act, 2018. See our post of March 6, 2018, Ontario Introduces Pay Transparency Legislation, for more information about the Bill. The earlier iteration of this Bill had died on the order paper when the Legislature…
Appellate Court Finds Employee Entitled to Bonus Which Vested after the End of the Notice Period
In Bain v. UBS Securities Canada Inc., the Ontario Court of Appeal upheld a lower court decision which awarded an employee who was dismissed without cause in February 2013 his bonus entitlements for 2012 and the first three months of 2013, as well as for the 18-month notice period. David Bain worked for UBS as…
Ontario Publishes Description of Proposed Variable Benefits Regulations for DC Plans
The Ontario government posted a description of proposed regulations on March 20, 2018 enabling it to implement the variable benefit (VB) provisions applicable to defined contribution (DC) plans under the Ontario Pension Benefits Act (PBA). Background – DC Decumulation Currently, Ontario members of DC plans who have terminated their employment with the plan sponsor and…
Reminder: Equal Pay for Equal Work Provisions in Force April 1, 2018
On April 1, 2018, amendments to the Employment Standards Act, 2000 regarding equal pay for equal work will come into force. Among other things, the provisions prohibit employers from paying different rates of pay to their employees because of a difference in employment status, where the employees perform substantially the same kind of work in…