Parties involved in the administration of pension plans have been waiting for Canadian pension regulators to agree to a new set of rules applicable to plans with members in more than one province. Recently, the governments of British Columbia, Nova Scotia, Ontario, Quebec and Saskatchewan signed a new Agreement Respecting Multi-Jurisdictional Pension Plans, which took effect July 1, 2016 (2016 Agreement)…
Practice Area: Pensions, Benefits & Compensation
Top Listed in Best Lawyers® in Canada
Hicks Morley once again ranked #1 in Canada in the field of Labour and Employment Law in Best Lawyers® in Canada, 2017. Hicks Morley has more listed lawyers in the area of Labour and Employment Law than any other firm in Canada. Hicks Morley lawyers have also been listed in the Employee Benefits Law, the Privacy and Data Security Law and the Workers’ Compensation Law sections…
Ontario to Repeal ORPP Administration Corporation Act
On July 28, 2016, the Ontario government announced its plans to repeal the Ontario Retirement Pension Plan Administration Corporation Act, 2015 (Act) when the Legislature resumes sitting in the Fall, 2016. The Act created the Ontario Retirement Pension Plan (ORPP) Administration Corporation to administer the ORPP, Ontario’s stand-alone solution to address retirement security concerns for…
Marshall Consultation Paper on Ontario Pension Solvency Funding Framework Released
Ontario registered defined benefit (DB) pension plans must be funded on the greater of a going concern or solvency basis, as we outlined in our recent FTR Now Ontario Pension Solvency Funding Framework Under Review. Due to the recent, yet prolonged, low-interest rate environment, most DB plans are in a deficit position on a solvency basis, requiring many employers to make large special payments to fund the deficits over a five-year period…
CPP Expansion and the (Likely) Demise of Ontario’s Provincial Pension Plan
On June 20, 2016, following a highly anticipated meeting between the federal, provincial and territorial Ministers of Finance…
Hicks Morley Lawyers Named Leading Practitioners in the 2016 Canadian Legal Lexpert® Directory
Hicks Morley congratulates each one of our lawyers who has been recognized as a leading practitioner in the 2016 Canadian Legal Lexpert® Directory.
Third Round of Ontario Temporary Solvency Funding Relief for DB Pension Plans is Now in Force July 1, 2016
Following the release last month of draft Regulations, the Ontario government has now adopted amendments…
Finalized Regulations Extend Temporary Solvency Funding Relief in Ontario
Effective July 1, 2016, amendments to Regulation 909 first proposed on…
ORPP Act Passes Third Reading as Amended by Committee
On June 2, 2016, Bill 186, the Ontario Retirement Pension Plan Act (Strengthening Retirement Security for Ontarians), 2016 (ORPP Act, 2016) passed…
Ontario Pension Solvency Funding Framework Under Review
Ontario registered defined benefit (DB) pension plans must be funded on the greater of a going concern or solvency basis…