On April 8, 2013, the government of Saskatchewan introduced Bill 92, The Pooled Registered Pension Plans (Saskatchewan) Act. If passed, Bill 92 would authorize pooled registered pension plans (“PRPPs”) to be made available to provincially regulated employees and self-employed persons in Saskatchewan. Subject to the legislation and any supporting regulations, the requirements set out in…
Practice Area: Pensions, Benefits & Compensation
Natasha Monkman Quoted in the Edmonton Journal, The StarPhoenix and The Windsor Star
Hicks Morley’s Natasha Monkman was quoted on April 3, 2013 in the Edmonton Journal, The StarPhoenix and The Windsor Star in an article entitled “Ruling on pensions comes as a surprise.” In the article, they comment on the recent decision by the Supreme Court of Canada not to review the Ontario Court of Appeal’s decision…
New EI Benefit Rate Calculation to Come Into Force April 7, 2013
On April 7, 2013, certain amendments to the Employment Insurance Act (“EI Act”) made by the federal government’s Budget 2012 legislation, Jobs, Growth and Long-term Prosperity Act, will come into force and create a new benefit rate calculation for employment insurance benefits. As of April 7, 2013, the calculation of the benefit rate of most…
Natasha Monkman Quoted in the Financial Post
Hicks Morley’s Natasha Monkman was quoted in the March 28, 2013 edition of the Financial Post. In an article entitled “Supreme Court of Canada refuses leave for appeal of Carrigan pension decision,” they comment on the Financial Services Commission of Ontario’s letter and state, “it remains to be seen whether there will be any policy…
Supreme Court of Canada Denies Leave to Appeal in Carrigan
Today, the Supreme Court of Canada denied leave to appeal from the Ontario Court of Appeal decision in Carrigan v. Carrigan. The Court of Appeal’s decision awarded the payment of the pre-retirement death benefit payable under an Ontario registered pension plan to a member’s designated beneficiaries rather than to his common law spouse (Ms Quinn),…
Supreme Court Denies Leave in Carrigan
The Supreme Court of Canada will not be providing further clarification regarding the administration of pre-retirement death benefits under section 48 of the Ontario Pension Benefits Act (“PBA”). Today, the Court denied leave to appeal in Quinn v. Carrigan. As first discussed in our FTR Now “Ontario Court of Appeal Decision Rewrites the Pension Pre-Retirement…
SCC to Render Leave to Appeal Decision in Carrigan
On March 28, 2013, the Supreme Court of Canada will render its leave to appeal decision in Quinn v. Carrigan. The majority of the Ontario Court of Appeal awarded the payment of the pre-retirement death benefit payable under an Ontario registered pension plan to a member’s designated beneficiaries rather than to his common law spouse…
Federal Budget 2013
On March 21, 2013, the Minister of Finance, the Honourable James M. Flaherty, tabled the 2013 Federal Budget “Jobs, Growth and Long Term Prosperity – Economic Action Plan 2013.” In this FTR Now we review those Budget items that are of most interest to employers, human resources professionals and pension plan administrators. These include: Amendments…
Federal Budget 2013 Highlights
On March 21, 2013, the federal government tabled its Budget 2013, Jobs Growth and Long Term Prosperity – Economic Action Plan 2013. Some of the highlights of interest to employers and pension plan administrators include: simplified GST/HST pension plan rules for employers; amendments to the Income Tax Act to permit the correction of reasonable pension…
Divisional Court Confirms that Section 80(3) of the PBA Deems Employment to Continue Following Sale of Business
In Ontario Pension Board v. Ratansi, the Ontario Divisional Court confirmed that the Pension Benefits Act (“PBA”) deems that following a sale of business transaction, both employment and pension plan membership continue under the predecessor employer’s pension plan while the employee continues in employment with the successor employer. The decision overturns an earlier decision of…