On May 26, 2015, the federal government announced that it will conduct public consultations regarding potential changes to the Canada Pension Plan (“CPP”) to allow Canadians to voluntarily contribute more. No details were released at the time of the announcement. We will continue to monitor any developments regarding a possible expansion of the CPP.
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Changes to the Federal Pension Investment Rules
In March 2015, the federal government published final regulations amending investment rules under the Pension Benefits Standards Regulations, 1985 (“Regulations”). These reforms apply to federally registered pension plans and to pension plans registered in provincial jurisdictions that have adopted Schedule III of the Regulations, as amended (the “Federal Investment Rules” or “FIR”). As we previously…
Employment Standards Enforcement Blitzes Announced for Ontario Workplaces
The Ontario Ministry of Labour has announced that it will do province-wide enforcement blitzes of workplaces that employ “new, young and vulnerable workers engaged in “precarious employment”” and temporary foreign workers to ensure that employers are complying with their obligations under the Employment Standards Act, 2000. The blitzes will take place from May 1 to…
Ontario Begins Consultations on Labour and Employment Reform
On May 14, 2015, the Ontario government formally commenced the "Changing Workplaces" consultations first announced in February. To facilitate this process, the government also published a guide outlining the scope of the consultations, the specific issues on which the government is soliciting feedback and instructions on how to participate. You can view the government’s announcement…
B.C. Pension Reforms Effective September 30, 2015
Effective September 30, 2015, British Columbia’s new Pension Benefits Standards Act (“PBSA”) and supporting regulation, the Pension Benefits Standards Regulation (the “New Regulation”), will come into force, at last implementing key legislative changes originally passed by the British Columbia government in the spring of 2012. Plans must be administered to reflect the new legislative requirements…
2015 Ontario and Federal Budgets Released
On April 23, 2015, the Ontario government tabled the 2015 provincial Budget, “Building Ontario Up” (“Budget”) and Bill 91, Building Ontario Up Act (Budget Measures), 2015 (“Bill 91”), supporting omnibus legislation designed to implement some of the proposals contained in the Budget. We are in the process of reviewing the Budget and Bill 91, and…
Federal Budget 2015
On April 21, 2015, the Minister of Finance tabled the 2015 Federal Budget, “Strong Leadership: A Balanced-Budget, Low-Tax Plan for Jobs, Growth and Security.” This FTR Now focuses on some of the key proposals that are of particular interest to employers, human resources professionals and pension plan administrators. These include: changes to registered retirement income…
WSIB Rate Framework Reform: Stakeholder Input Invited
On March 31, 2015, the Workplace Safety and Insurance Board (“WSIB”) released a number of discussion papers which propose a preliminary Rate Framework which, if adopted, would fundamentally change the way the WSIB classifies Schedule 1 employers and sets its premium rates. Under the proposal, the Secondary Injury and Enhancement Fund (“SIEF”) and existing experience…
FSCO Updates Form 1 (Pension Plan Registration), Asset Transfer FAQs
On April 7, 2015, the Financial Services Commission of Ontario (“FSCO”) published a revised Application for Registration of a Pension Plan, Form 1 and added new frequently asked questions for plan administrators (“FAQs”) with respect to Multi-Jurisdictional Pension Plan Asset Transfers, among other things. The Form 1 has been updated to provide FSCO with additional…
Hicks Morley Congratulates Canada’s Best Diversity Employers for 2015
We would like to extend a very special congratulations to all the employers and in particular our many clients who made the list of Canada’s Best Diversity Employers for 2015. Now entering its ninth year, Canada’s Best Diversity Employers recognizes employers across Canada that have exceptional workplace diversity and inclusiveness programs. This competition recognizes successful…