An article co-authored by Hicks Morley’s Natasha Monkman was published in the August 6, 2014 edition of Benefits Canada. Many employers are concerned with the volatile funding of defined benefit pension plans. On the other hand, there is concern that defined contribution pension plans will not provide adequate retirement income for employees. The article entitled, “The future of workplace…
Practice Area: Pensions, Benefits & Compensation
Budget Bill Includes Carrigan Pre-Retirement Death Benefit Fix
The Ontario government has taken steps in its 2014 Budget to address the impact of the Ontario Court of Appeal’s 2012 decision in Carrigan v. Carrigan Estate (“Carrigan“). On July 24, 2014, the Ontario Legislature passed Bill 14, the Building Opportunity and Securing Our Future Act (Budget Measures), 2014 (“Bill 14”), which implements some of…
New Alberta Employment Pension Plans Act Regulation
On July 22, 2014 the Alberta government enacted a supporting regulation to that province’s Employment Pension Plans Act (the “Act”), legislation enacted in December 2012 following recommendations from the Joint Expert Panel on Pension Standards. The Act and the new Employment Pension Plans Regulation will come into force on September 1, 2014. A government summary…
Ontario Budget 2014
On Monday, July 14, 2014, the newly elected Liberal government introduced the 2014 Ontario Budget. As was pledged by Premier Wynne during the election campaign, the new Budget is virtually identical to the version that was first tabled on Thursday, May 1, 2014 (and which triggered the recent election). The newly tabled Budget is still…
Ontario Government Re-Introduces Budget 2014, New Budget Bill
On July 14, 2014, the Ontario government re-introduced its 2014 Budget, entitled Building Opportunity, Securing Our Future (the “Budget”). On the same day, it tabled Bill 14, Building Opportunity and Securing Our Future Act (Budget Measures), 2014. The amendments outlined in Bill 14 are similar, but not identical, to measures proposed in the May 2014 Budget Bill…
Hicks Morley Receives Highest Ranking in Labour Relations in the 2014 Canadian Legal Lexpert® Directory
Hicks Morley is delighted to once again be named “Most Frequently Recommended” in the Labour Relations (Toronto) category and “Consistently Recommended” in the Labour Relations (Ottawa) category. The firm has also been named “Most Frequently Recommended” in the Labour Relations (Kitchener-Waterloo) category and the Labour Relations (London) category. The firm has once again been ranked “Consistently…
CPP Regulations Amended to Define “Substantially Gainful” Occupation
On June 18, 2014, Regulations Amending the Canada Pension Plan Regulations were published in the Canada Gazette. As previously reported, the Regulations amend the Canada Pension Plan Regulations to prescribe the meaning of “‘substantially gainful’, in respect of an occupation” in subsections 42(1) and 89(1) of the Canada Pension Plan, one of the factors relevant…
Hicks Morley Lawyers Named Leading Practitioners in the Canadian Legal Lexpert® Directory 2014
Hicks Morley congratulates each one of our lawyers who has been recognized as a leading practitioner in the Canadian Legal Lexpert® Directory 2014. Further details can be found on Lexpert.ca. Toronto John E. Brooks Employment Law Labour Relations Donna M. D’Andrea Employment Law Labour Relations Henry Y. Dinsdale Labour Relations John C. Field Employment Law…
Ontario Amends “Letter of Credit” and BPS Solvency Funding Relief Regulations
On May 17, 2014, the Ontario government published regulatory amendments to Regulation 909 (General) under the Pension Benefits Act that: clarify that for purposes of determining the total amount of all letters of credit (“LOC”) held in trust for the pension fund for inclusion in the solvency asset adjustment, the value of any special payments…
CAPSA Releases Guideline on Defined Contribution Pension Plans
On March 28, 2014, the Canadian Association of Pension Supervisory Authorities (“CAPSA”), the association which represents all Canadian pension regulators, released the final version of Guideline No. 8: Defined Contribution Pension Plans, (“DC Guidelines”) along with an accompanying reference document. The DC Guidelines were issued following the circulation of a draft version and extensive public…