The federal government filed a regulatory amendment to the Canada Pension Plan Regulations which prescribes the manner of employee elections (or revocations) regarding the new Post-Retirement Benefit (“PRB”), which will be available under the Canada Pension Plan (“CPP”), effective January 1, 2012. The amendment was first proposed in October of 2011, as previously reported.
Practice Area: Pension, Benefits & Executive Compensation
Ontario Enhances Pension Benefits Guarantee Fund (“PBGF”)
On December 21, 2011, the Ontario government announced changes to the Pension Benefits Guarantee Fund (“PBGF”) that will become effective January 1, 2012. The enhancements to the PBGF were introduced with Phase II of Ontario’s pension reform and the passage of Bill 120, Securing Pension Benefits Now and for the Future Act, 2010, and are…
Federal Pooled Registered Pension Plan (“PRPP”) Income Tax Amendments Proposed
On December 14, 2011, the federal government released draft legislative proposals outlining proposed amendments to the Income Tax Act (“ITA”) and the Income Tax Regulations to facilitate the implementation of Pooled Registered Pension Plans (“PRPPs”) for public commentary. The proposed amendments would incorporate PRPPs into the existing ITA regime for registered retirement savings vehicles and…
Supreme Court of Canada Grants Leave to Appeal in Indalex Decision
Earlier today, the Supreme Court of Canada granted leave to appeal in Sun Indalex Finance, LLC v. United Steelworkers (“Indalex“). The appeal relates to a decision rendered by the Ontario Court of Appeal in April 2011 in which that Court granted “super priority” to pension funding deficits in a Companies’ Creditors Arrangement Act proceeding. A…
Pooled Registered Pension Plan Framework Introduced
On November 17, 2011, the federal government introduced the much anticipated Bill C-25, An Act relating to pooled registered pension plans and making related amendments to other Acts, also known as the Pooled Registered Pension Plans Act (the “PRPP Act”). The proposed legislation follows high-profile consultations with the provinces and the industry, which resulted in…
2011 Fall Issue
FOCUS ON OTTAWA Deep roots:10 years in Ottawa LEGAL DEVELOPMENTS Training 101 PROFILE French Connection Download PDF
School Board Update
IN THIS ISSUE Arbitrator Provides Helpful Award in Ontario’s First TPA Discharge Arbitration Divisional Court Re-Affirms the Importance of Time Limits Pay Equity Remains a Priority Legal Issue for School Boards Accommodating Scent Sensitivities in the Workplace Ontario Human Rights Tribunal Endorses Employer Control Over Accommodation Process Integrated Accessibility Standards under the AODA OMERS Omissions…
Federal Pooled Registered Pension Plan (“PRPP”) Legislation Introduced
On November 17, 2011, the Minister of State (Finance) and the Minister of Industry announced the introduction of Bill C-25, An Act relating to pooled registered pension plans and making related amendments to other Acts, new legislation implementing the framework for the federal component of the PRPP. The government will shortly release draft tax rules…
Second Window for Broader Public Sector Solvency Funding Relief Announced
On November 2, 2011, the Ontario government announced the second window of eligibility for broader public sector (“BPS”) solvency funding relief. As previously discussed in our FTR Now of February 11, 2011, “Solvency Funding Relief Details for Broader Public Sector Released by Ontario Government”, BPS solvency funding relief provides BPS pension plans two stages of…
2012 EI Premium Rate Parameters Set, Work-Share Program Enhancement Extended
On November 8, 2011, the federal government announced a reduction in the maximum potential increase in Employment Insurance (“EI”) premium rates for 2012 from 10 cents, to 5 cents. Under these new parameters, the 2012 premium rate will not exceed $1.83 per $100 of insurable earnings. In addition, the government announced a temporary extension of…