On June 18, 2015, O. Reg. 147/15 amending O. Reg. 308/13 (Assets Transfers under section 80.1 of the Act) made under the Pension Benefits Act (“PBA”) came into force. O. Reg. 147/15 amends the date of the effective transfer of assets under section 80.1 from June 30, 2015 to a date not later than the…
Practice Area: Pensions, Benefits & Compensation
Union Financial Disclosure Bill Receives Royal Assent
On June 30, 2015, Bill C-377, An Act to amend the Income Tax Act (requirements for labour organizations), received Royal Assent. Bill C-377, a private member’s bill, requires unions to file certain financial information with the Canada Revenue Agency (“CRA”) within six months from the end of each fiscal period. Among other things, information to…
FSCO Invites Public Consultation on Recent Changes to SIPP Requirements
On June 30, 2015, the Financial Services Commission of Ontario (“FSCO”) posted Investment Guidance Notes on Environmental, Social and Governance Factors (ESG) and Statements of Investment Policies and Procedures (SIPPs) for Member Directed Defined Contribution Plans for public consultation prior to being finalized. Investment Guidance Notes set out the expectations of FSCO regarding the investment…
Draft Regulations Governing Transfers and Conversions to JSPPs under Sections 80.4 and 81.0.1 of Pension Benefits Act Published
On June 26, 2015, the Ontario government published draft regulations (the “Draft Regulations”) setting out the proposed rules governing the merger or conversion of single employer pension plans (“SEPPs”) to jointly sponsored pension plans (“JSPPs”) in the broader public sector (“BPS”). The draft regulations will support sections 80.4 and 81.0.1 of the Pension Benefits Act…
Hicks Morley Lawyers Named Leading Practitioners in the 2015 Canadian Legal Lexpert® Directory
Hicks Morley congratulates each one of our lawyers who has been recognized as a leading practitioner in the 2015 Canadian Legal Lexpert® Directory. Toronto David J. Bannon Labour Relations Labour Relations – Construction Sector Occupational Health & Safety Workers’ Compensation Harvey A. Beresford, Q.C. Labour Relations John E. Brooks Employment Law Labour Relations Donna…
Hicks Morley Receives Highest Ranking in Labour Relations in the 2015 Canadian Legal Lexpert® Directory
Hicks Morley is delighted to once again be named “Most Frequently Recommended” as a leading firm in Labour Relations in the Toronto, Kitchener-Waterloo and London areas, and “Consistently Recommended” as a leading firm in Labour Relations in the Ottawa area. The firm has also once again been named “Consistently Recommended” in Pension & Employee Benefits – Toronto and “Repeatedly Recommended”…
Federal Post – First Edition
Dear Friends, We are excited to bring to you our first edition of the Federal Post, a newsletter designed exclusively for federally regulated employers. The Federal Post discusses issues that are topical, timely and important. It will cover the gamut of matters which impact your workplace, from human rights to minimum standards to labour relations…
Natasha Monkman Honoured with 2015 CPBI Regional Volunteer of the Year Award
Hicks Morley congratulates Natasha Monkman on receiving the CPBI Regional Volunteer of the Year Award. Natasha has served on the Canadian Pension & Benefits Institute’s Ontario Regional Council since 2011, providing outstanding support to the Ontario Region by serving on many volunteer committees and Chairing this year’s Program and Conference Committee. In doing so, she…
Ontario Passes PRPP Legislation
On May 26, 2015, Bill 57, the Pooled Registered Pension Plans Act, 2015, passed Third Reading, as amended by the Standing Committee on Social Policy. The Bill, which is awaiting Royal Assent, will come into force on a date to be named by proclamation. As we previously reported, pooled registered pension plans (“PRPPs”) are a…
Federal Government Announces Possible Canada Pension Plan Expansion
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.