Hicks Morley is pleased to announce it has been named in the Chambers Global 2014: The World’s Leading Lawyers for Business as a leading specialist practice for Employment & Labour and Pensions & Benefits in Canada. In commenting on the firm, sources have stated, Hicks Morley is “A premier management boutique in Toronto.” Below…
Practice Area: Pensions, Benefits & Compensation
Ontario Adopts “10% Rule” Exemption for U.S. Government Securities
On March 7, 2014, the Ontario government filed regulatory amendments to General Regulation 909 under the Pension Benefits Act. O. Reg. 51/14 (General) exempts investments in securities issued and fully guaranteed by the government of the United States of America (“U.S.”) from the so-called “10% rule” in respect of the quantitative investment limits applicable to…
Pension Asset Transfers Made Easier
Long-awaited amendments to the Ontario Pension Benefits Act (“PBA”) regarding the transfer of assets between pension plans became effective on January 1, 2014. New supporting Regulations under the PBA[1] (the “Asset Transfer Regulations”) also came into force on January 1, 2014. This FTR Now provides a high-level overview of the new asset transfer regime. The…
Proposed Amendment to CPP Regulations Defining “Substantially Gainful” Occupation
On February 15, 2014, the federal government published proposed Regulations Amending the Canada Pension Plan Regulations. If adopted, the proposed Regulations would prescribe the meaning of “‘substantially gainful’, in respect of an occupation” in subsections 42(1) and 89(1) of the Canada Pension Plan (“CPP”), one of the factors relevant to determining when a person is…
Federal Budget 2014
On February 11, 2014, the Minister of Finance, the Honourable James Flaherty, tabled the 2014 Federal Budget “The Road to Balance: Creating Jobs and Opportunities” (Economic Action Plan 2014). This FTR Now focuses on some of the key proposals that are of particular interest to employers, human resources professionals and pension plan administrators. TAX INITIATIVES…
Class Action on Reduction of Retiree Benefits to Proceed
A proposed class action brought in Québec by retirees against their former employer was recently authorized by the Supreme Court of Canada. The claim advanced in Vivendi Canada Inc. v. Dell’Aniello related to unilateral changes made by the employer in 2009 to the retirees’ supplemental health insurance plan. The Court found that the four criteria…
Ontario Proposes “10% Rule” Exemption for U.S. Government Securities
On February 5, 2014, the Ontario government published proposed amendments to Regulation 909 under the Pension Benefits Act that would, if adopted, exempt investments in securities issued and fully guaranteed by the government of the United States of America (“U.S.”) from the so-called “10% rule” in respect of the quantitative investment limits applicable to registered…
SCC authorizes Québec class action regarding reduction of retiree benefits
The Supreme Court of Canada (“SCC”) recently released a unanimous decision authorizing a class action on behalf of retirees against their former employer, relating to announced changes to their supplemental health insurance plan (“Plan”). The case, Vivendi Canada Inc. v. Dell’Aniello, was decided under the specific wording of the Québec class proceedings statute. In 2009,…
Hicks Morley Featured in Benefits and Pensions Monitor
On January 30, 2014, Benefits and Pensions Monitor commented on Hicks Morley’s recent Advantage session entitled “Times, They are a Changing in the Pension & Benefits World.” Natasha Monkman was featured in this edition for their contributing topics in our Advantage session. Terra discussed how reformation measures aim to find a medium between defined contribution and…
Times, They are a Changing in the Pension & Benefits World (Accredited)
Agenda Retirement issues are in the spotlight like never before as everyone from governments to employers grapple with rising costs for pension and healthcare, while pension plan members and retirees may prefer to preserve the status quo. This session will highlight key developments in these changing times. What’s New? – A review of key case…