Upon the request of the Prime Minister, the Governor General officially prorogued Parliament today. The next session of Parliament is scheduled to begin on October 16, 2013, with a Speech from the Throne. As described in our previous post – Parliament to be Prorogued – all Government Bills have “died on the Order Paper,” and…
Industry: Financial Services
Government Announces Three-Year EI Premium Freeze
On September 9, 2013, the federal Government announced that it would be cancelling its planned EI premium hike for 2014. Instead, EI premiums will be frozen at the 2013 level of $1.88 per $100 of insurable earnings. The Government also stated that the rate would not exceed $1.88 for 2015 or 2016. On the same date,…
Parliament to be Prorogued
The Prime Minister has announced that he will ask the Governor General to prorogue Parliament until October 2013. Parliament was previously set to resume sitting on September 16, 2013. With prorogation, the unfinished business of Parliament will “die” on the Order Paper, including government bills which have not yet received Royal Assent. These bills can…
Québec Publishes Private Sector Solvency Deficiency Draft Regulation for Comment
On July 10, 2013, the Québec government published a draft regulation made under the Supplemental Pension Plans Act (“Act”) entitled “Pension plans in the private sector – New relief measures for the funding of solvency deficiencies” (“Draft Regulation”). The Draft Regulation offers relief measures for the funding of deficiencies in private sector defined benefit plans…
WSIB Announces 2014 Premium Rates
On July 12, 2013, the WSIB announced that its premium rates for Schedule 1 employers will remain at current levels for 2014. The maximum insurable earnings ceiling for 2014 will be $84,100, an increase of 1.1% from $83,200 in 2013.
Canadian Human Rights Act Amended to Delete Discriminatory Practice Relating to “Hate Messages”
On June 26, 2013, a federal private member’s Bill, Bill C-304, An Act to amend the Canadian Human Rights Act (protecting freedom), received Royal Assent. Bill C-304 amends the Canadian Human Rights Act (“Act”) by repealing section 13 “Hate Messages” as a discriminatory practice, to ensure compliance with the freedom of expression guarantee in the…
PBA Amendment Relating to Retroactivity of Certain Regulations Now in Force
Schedule 11 of the Prosperous and Fair Ontario Act (Budget Measures), 2013 has been proclaimed into force effective June 21, 2013. Among other things, Schedule 11 amends the Pension Benefits Act to add a provision allowing for the retroactive effect of regulations relating to the funding of a defined benefit pension plan by allowing a…
PBA Amendment Repealing Provisions Relating to Withdrawal of Locked-In Retirement Funds in Force January 1, 2014
Section 4 of Schedule 44 of the Strong Action for Ontario Act (Budget Measures), 2012 has been proclaimed into force effective January 1, 2014. Section 4 amends the Pension Benefits Act by repealing certain provisions relating to the Superintendent’s involvement in approving withdrawals from locked-in retirement savings arrangements. As previously reported, a supporting regulation to…
Federal Budget Bill Receives Royal Assent
On June 10, 2013, Bill C-60, Economic Action Plan 2013 Act, No. 1, passed Third Reading in the House of Commons. On June 25, 2013 it passed Third Reading in the Senate and on June 26, 2013 it received Royal Assent. As previously reported, Bill C-60 is omnibus legislation which will give effect to certain…
Union Disclosure Bill Amended by Senate and Returned to House of Commons
On June 26, 2013, the Senate adopted a motion to amend Bill C-377, An Act to amend the Income Tax Act (requirements for labour organizations). As previously reported, Bill C-377 is a private member’s bill which, if passed, will amend the Income Tax Act to require labour organizations to disclose certain prescribed information. Amendments adopted…