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…
Industry: Social Services
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…
2015 EI Maximum Insurable Earnings Rate Set
On September 12, 2014, the Canada Employment Insurance Commission (“CEIC”) announced that the 2015 Employment Insurance (“EI”) Maximum Insurable Earnings rate will increase to $49,500 from $48,600 in 2014. Premiums will be reduced by $0.34 per $100 of insurable earnings for residents of Quebec covered under the Quebec Parental Insurance Plan. Accordingly, those residents will…
Mandatory Insurance of LTD Plans: New Federal and Provincial Requirements
As previously reported, effective July 1, 2014, federally-regulated employers, including Crown corporations, who are governed by Part III of the Canada Labour Code and who provide their employees with long-term disability (“LTD”) plan benefits must insure the plan, on a go-forward basis, with an entity that is licensed to provide insurance under the laws of…
Small Business Job Credit and New EI Rate-Setting Mechanism Announced
On September 11, 2014, the federal government announced the introduction of the Small Business Job Credit (“Credit”), which is intended to provide tax relief for small employers. The Credit effectively lowers the Employment Insurance (“EI”) premium rate for eligible businesses from the current, legislated rate of $1.88, to $1.60 per $100 of insurable earnings in…
Another Reminder to Employers: Draft Termination Notice Provisions with Care
The Ontario Superior Court has reaffirmed that if a termination provision in an employment contract does not strictly comply with the requirements of the Employment Standards Act, 2000 (“ESA”), it will be considered null and void. In Miller v. A.B.M. Canada Inc., the plaintiff, Mr. Miller, was a management accountant. He was hired into the position…
Reaching Out – Sixth Edition
Dear Friends, With summer heating up, burning human resources issues continue to smolder as well. At Hicks Morley, we hope that you are enjoying the summer sunshine and we welcome you to the Summer 2014 Edition of Reaching Out, designed to address a number of relevant practical issues of particular interest and application to management…
New Alberta Employment Pension Plans Act Regulation
On July 22, 2014 the Alberta government enacted a supporting regulation to that province’s Employment Pension Plans Act (the “Act”), legislation enacted in December 2012 following recommendations from the Joint Expert Panel on Pension Standards. The Act and the new Employment Pension Plans Regulation will come into force on September 1, 2014. A government summary…
Ontario Passes Budget Bill, Adjourns
On July 24, 2014, the Ontario government passed Bill 14, Building Opportunity and Securing Our Future Act (Budget Measures), 2014, and the House adjourned for the summer break. It will resume sitting in October. More information on Bill 14 and its impact on your organization is available in our FTR Now of July 17, 2014, “Ontario…