On December 5, 2012, the Ontario government posted a regulatory proposal regarding amendments to O. Reg. 178/11 (Solvency Funding Relief for Certain Public Sector Pension Plans), made under the Pension Benefits Act. Comments on the proposal are due by January 20, 2013. Under the proposal, the third and final window for solvency funding relief for…
Industry: Membership Associations
Changes Made to the WSIB Appeals Process
On November 29, 2012, the Workplace Safety and Insurance Board (“WSIB”) issued a Consultation Report entitled “Modernization of the WSIB’s Appeals Program.” The Report is the result of a consultation process commenced in June 2012, when the WSIB released a Consultation Paper containing certain key proposed features to increase efficiencies within the WSIB appeals process…
PEI Introduces Pension Benefits Legislation
On November 21, 2012, the Prince Edward Island government introduced Bill 12, Pension Benefits Act, in the legislature. The government has stated that with the exception of a few minor changes, Bill 12 is the same as Bill 41, pension legislation that was introduced in May 2012 but which did not pass first reading. Prince…
Bill Requiring Disclosure of Information by Labour Organizations Reported Back to House of Commons
On November 27, 2012, Bill C-377, An Act to amend the Income Tax Act (requirements for labour organizations), was deemed reported without amendment back to the House of Commons from the Standing Committee on Finance. As previously reported, Bill C-377 is a private member’s bill which, if passed, will amend the Income Tax Act to…
Alberta Pension Reform Bill Passes Third Reading
On November 20, 2012, Bill 10, Employment Pension Plans Act, passed Third Reading in the Alberta Legislature. As previously reported, Bill 10 is an overhaul of the existing pension legislation in Alberta and will repeal and replace the Employment Pension Plans Act. The government of Alberta has issued an update outlining the key differences between…
Federal Budget Bill Reported Back to House of Commons
On November 26, 2012, Bill C-45, Jobs and Growth Act, 2012, was reported back to the House of Commons from the Standing Committee on Finance without amendment. As previously reported, Bill C-45 is the federal government’s second omnibus Bill which, if passed, will give effect to certain initiatives contained in its Budget 2012. For more…
PBA Letters of Credit Amendment Proclaimed Into Force
Section 3 of Schedule 44 to the Strong Action for Ontario Act (Budget Measures), 2012, has been proclaimed into force effective January 1, 2013. This section repeals and replaces 55.2(12) of the Pension and Benefits Act to provide that section 55.2, Letters of Credit, will not apply with respect to a jointly sponsored pension plan…
Contribution Limit for TFSA Raised $500
The federal government has announced that it will be raising the annual contribution limit for the Tax-Free Savings Account (“TFSA”) by $500, from the current $5000.00 to $5500.00, commencing in 2013.
Helping Families in Need Act Passes Third Reading
On November 20, 2012, Bill C-44, Helping Families in Need Act, was passed at Third Reading in the House of Commons and was referred to the Senate. As previously reported, if passed Bill C-44 will, among other things, make certain amendments to the Canada Labour Code regarding an employee’s right to take leave if his…
Proposed Amendments to CIRB Regulation Published for Comment
On November 17, 2012, the federal government published proposed Regulations Amending the Canada Industrial Relations Board Regulations, 2001, inviting interested parties to comment on the proposed regulatory text within two weeks of the date of publication. The proposed Regulations follow consultations conducted by the Canada Industrial Relations Board (“CIRB”) throughout 2011 with labour and management…