With the release of draft regulations, Ontario moves a step closer to allowing variable benefits to be paid directly from defined contribution pension plans.
Practice Area: Pensions, Benefits & Compensation
Federal Government Tables 2019 Budget Bill
On April 8, 2019, the federal government introduced Bill C-97, Budget Implementation Act, 2019, No. 1, for first reading. Bill C-97 is omnibus legislation enacting certain measures outlined in the 2019 Federal Budget. Below are some of the key amendments of interest to employers, pension plan administrators and human resources professionals.
Ontario Budget 2019: Protecting What Matters Most – Key Human Resources Highlights
On April 11, 2019, the Ontario government tabled its 2019 Budget, Protecting What Matters Most (Budget), and introduced supporting implementation legislation, Bill 100, the Protecting What Matters Most Act (Budget Measures), 2019 (Bill 100).
The Budget outlines key initiatives around broader public sector compensation, reforms within the healthcare sector, registered pension plans, freedom of information, and more. In this FTR Now, we highlight the proposals that are of particular interest to employers, benefits plan administrators and human resources professionals.
Ontario Government to Consult on Public Sector Compensation
On April 4, 2019, the President of the Treasury Board, Peter Bethlenfalvy, delivered a speech entitled The Path to Balance: Protecting What Matters Most in which he announced that the Ontario government will engage in consultations with public sector employers and bargaining agents on how to best manage compensation growth in the public sector. In…
Federal Budget 2019 – Something for (Almost) Everyone?
On March 19, 2019, the federal government tabled its 2019 Budget, “Investing in the Middle Class.” This is an election year, and there is a wide array of initiatives sprinkled throughout the Budget, covering many groups and sectors. There is something for (almost) everyone. In this FTR Now, we focus on the key employment, labour, executive compensation, pension and employee benefits announcements of most interest to employers, human resources professionals, plan sponsors and administrators.
EI Changes – Parental Sharing Benefit Coming into Force on March 17, 2019
Changes to the Employment Insurance Act will come into effect on March 17, 2019 to implement the additional Parental Sharing Benefit announced in the 2018 Federal Budget. Additional employment insurance (EI) parental benefits (up to 5 weeks of standard parental benefits or up to 8 weeks of extended parental benefits) will be available to…
Notice of Intended Decision Considers Whether Vacation Pay Forms Part of Pensionable Earnings
The Ontario Superintendent of Financial Services (Superintendent) issued a Notice of Intended Decision (NOID) in late 2018 that considered whether vacation pay should be factored into a pension plan’s definition of pensionable earnings. The NOID indicates that, in the absence of clear exclusionary language, the Superintendent will interpret the phrase “base pay” to include vacation…
Ontario Tables Health Care Reform Legislation
On February 26, 2019, the Ontario government tabled Bill 74, The People’s Health Care Act, 2019, which proposes significant changes to Ontario’s health care system.
Supreme Court of Canada Grants Appeal in Case Which Considered Constructive Dismissal, Long-Term Incentive Plan Entitlements and Duty of Good Faith
The Supreme Court of Canada has granted leave to appeal from a decision which considered long-term incentive plan entitlements as part of a constructive dismissal claim, and, in the dissent, the duty of good faith and honesty in the performance of employment contacts. In Ocean Nutrition Canada Ltd. v. Matthews, an employee resigned from employment…
Federal Government Proposes Legislative Amendments to Address Salary Overpayments
On January 15, 2019 the federal government announced proposed amendments to the Income Tax Act (ITA), Employment Insurance Act (EI Act) and Canada Pension Plan (CPP) that would more readily facilitate the correction of salary overpayments made to employees.