An FTR Now written by Hicks Morley’s Natasha Monkman was mentioned in the November 21, 2017 Benefits and Pensions Monitor Daily News Alert. The alert summarizes the FTR Now titled “Ontario’s Next Wave of Pension Reform”, which discusses the new legislation that will, if passed, change the retirement framework in Ontario – and the rules around pension plan administration, governance and funding.
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Bill 177 Introduces Transitional Provisions for WSIB Mental Stress, Increased Fines under OHSA
On November 14, 2017, the Ontario government introduced Bill177, the Stronger, Fairer Ontario Act (Budget Measures), 2017, omnibus legislation which, if passed, would amend several employment-related statutes. In this FTR Now, we discuss the proposed changes to the Workplace Safety and Insurance Act, 1997 and the Occupational Health and Safety Act.
Ontario’s Next Wave of Pension Reform
New legislation has been tabled that will, if passed, change the retirement framework in Ontario – and the rules around pension plan administration, governance and funding. The proposals outlined in Bill 177, Stronger, Fairer Ontario Act (Budget Measures), 2017, include permanent solvency funding measures, discharges for annuity purchases, a new registry for missing beneficiaries, multi-employer pension plans and target benefits changes and a host of other key amendments. Learn more about these important Bill 177 pension proposals and how they could impact your organization in this FTR Now.
Regulations Amending the Employment Insurance Regulations Released
Significant amendments to the Employment Insurance Regulations have been filed and were published in the Canada Gazette on November 15, 2017 to implement the availability of Employment Insurance (EI) benefits for the care of critically ill adult family members and the option to extend parental leaves, initiatives outlined in the 2017 Federal Budget. The changes…
More Changes to Bill 148 after Second Committee Review
On November 16, 2017, the Standing Committee on Finance and Economic Affairs (the Committee) adopted significant amendments to Bill 148, the Fair Workplaces, Better Jobs Act, 2017 (Bill 148). These amendments are in addition to amendments the Committee made in August of this year after First Reading of Bill 148, and are expected to be adopted by the Legislature in the near future.
Waiving the Biennial Statement Requirement for Missing Members: FSCO’s New Policy
On September 30, 2017, the Financial Services Commission of Ontario (FSCO) published a new policy outlining the procedures administrators must follow to obtain a waiver of the requirement to send biennial statements to missing former and retired members. Find out more in this FTR Now.
Ontario Proposes Significant Reforms to the Pension Benefits Act and other Employment-Related Statutes
On November 14, 2017, the Ontario government introduced Bill 177, the Stronger, Fairer Ontario Act (Budget Measures), 2017 (Bill 177), omnibus legislation supporting key reforms outlined in the 2017 Ontario Economic Outlook and Fiscal Review (Fiscal Review), which was also released on that date.
Ontario Amends PBA and PRPP Regulations; Introduces Legislation Affecting Police Sector Asset Transfers
Annuity Purchases on Wind Up On November 3, 2017, O. Reg. 412/17, amending Regulation 909 (General) made under the Pension Benefits Act (PBA), was filed. As discussed in our FTR Now, Ontario’s Bill 70: The New Face of Pension Regulation Revealed, amendments will be made to the PBA requiring administrators appointed by the Superintendent of…
Setting up Shop in Canada? What U.S. Employers Need to Know About Canadian Employment Law
While Canada and the United States are alike in many respects, there are a few key differences in employment law that U.S. employers should be aware of if you are considering buying, selling or operating a business in Canada.
Ontario Introduces Cannabis, Smoke-Free Ontario and Road Safety Legislation
On November 1, 2017, the Ontario government tabled Bill 174, Cannabis, Smoke-Free Ontario and Road Safety Statute Law Amendment Act, 2017 omnibus legislation which would, if passed, regulate the cultivation, sale, distribution and consumption of cannabis in Ontario, enact the Smoke-Free Ontario Act, 2017 and make amendments to the Highway Traffic Act relating to impairment by cannabis and road safety. Among other things, the Bill provides the provincial framework for the federal Bill C-45, Cannabis Act.