Hicks Morley’s Paul Broad was quoted in the October 6, 2014 edition of Law Times magazine in an article entitled “Labour lawyers watching as SCC pronounces on key employment law issues.” Among other things, Paul comments on the Saskatchewan Federation of Labour v. Saskatchewan decision, currently on reserve at the Supreme Court of Canada, which…
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New Employment Standards Leaves of Absence Coming Into Effect October 29, 2014
Effective October 29, 2014, three new job-protected leaves of absence will be added to the Employment Standards Act, 2000 – family caregiver leave, critically ill child care leave and crime-related child death or disappearance leave. The new leaves are in addition to existing leaves of absence available to employees under the Act, and can be…
Ontario Releases Proposed PBA Regulations for Consultation
This past Spring, the Ontario government released proposed amendments to Regulation 909 (the “Regulations”) of the Pension Benefits Act (“PBA”) in respect of four previously announced pension reform initiatives (“April Proposals”). The April Proposals – which described the content of the proposed changes to the Regulations – are summarized in our FTR Now of April…
FSCO Consultation on Proposed Investment Guidance Notes (Buy-In Annuities)
On October 7, 2014, the Financial Services Commission of Ontario (“FSCO”) announced that it will be publishing Investment Guidance Notes (“Guidance Notes”) with respect to various investment activities of Ontario registered pension plans. The Guidance Notes will set out FSCO’s expectations and identify issues that plan administrators should consider and address in respect of the…
Court of Appeal Dismisses Overtime Eligibility Class Action Certification Appeal
On October 6, 2014, the Court of Appeal for Ontario unanimously dismissed an appeal from the Ontario Divisional Court’s decision[1] dated April 23, 2013 which in turn dismissed an appeal from a decision dated April 27, 2012, dismissing a motion for certification of a claim regarding eligibility for overtime pay as a class action.[2] The…
Disclosure Reforms and New Defined Contribution Payment Option for Federally Regulated Pension Plans
On September 19, 2014, the federal government released proposed amendments to the Pension Benefits Standards Regulations, 1985 (“PBSR”). Proposals relating to the pension investment rules that apply more broadly – to federally regulated pension plans[1] as well as pension plans that are regulated by the provincial pension legislation in Ontario, Alberta, British Columbia, Manitoba, Newfoundland…
Five PRPP-Licenced Insurers Now Registered for Implementation
On October 7, 2014, the federal government announced that the following five insurance companies have been given licences under the federal Pooled Registered Pension Plan (“PRPP”) framework and have been registered with the Office of the Superintendent of Financial Institutions and the Canada Revenue Agency: Sun Life, Great West Life, Manulife, Standard Life and Industrial-Alliance….
Ontario Proposes Pension Regulations
On October 3, 2014, the Ontario government published proposed amendments (“Proposed Amendments”) to Regulation 909 of the Pension Benefits Act (“PBA”) that incorporate stakeholder feedback received in response to proposed amendments first published on April 25, 2014, as previously discussed. The government is inviting comments from stakeholders on the following new Proposed Amendments: Statements for…
Natasha Monkman featured in Benefits and Pensions Monitor
Benefits and Pensions Monitor featured Hicks Morley’s Natasha Monkman in their September 26, 2014 Daily News Alerts. The article features Natasha’s recent presentation at the Canadian Pension & Benefits Institute’s Atlantic regional annual conference, and summarizes her presenation as follows: “Fees, selection of default funds, and imprudent selection of investments are the leading causes of legal action in the U.S….
Proposed Investment Rule Changes for Registered Pension Plans
On September 19, 2014, the Department of Finance Canada released proposed amendments to the federal Pension Benefits Standards Regulations, 1985 (“PBSR”). The proposed amendments would modernize the pension investment rules applicable to pension plans registered in many Canadian jurisdictions. Specifically, these changes will, if adopted as drafted, impact the investments that are permitted to be…