A recent decision of the British Columbia Court of Appeal, Lacey v. Weyerhaeuser, considered an employer’s right to unilaterally change post-retirement benefits. Although the retiree benefits at issue in this case had been voluntarily instituted, it was found that the employer had represented that the retiree benefits would be maintained on and after retirement, and…
Practice Area: Pensions, Benefits & Compensation
New Federal Graduated Late-Filing Penalty for Certain Employment-Related Tax Filings
On November 20, 2013, the federal government registered Regulations Amending the Income Tax Regulations (Late Filing Penalty – Prescribed Information Returns). The regulatory amendment relates to the government’s Budget 2009 and subsequent legislative initiative (via Budget Implementation Act, 2009 amendments) to provide for a “separate, less severe, graduated penalty that would be applicable where ‘prescribed’…
New Brunswick Introduces Public Service Pension Reform Bill
On November 19, 2013, the New Brunswick government introduced Bill 11, An Act Respecting Public Service Pensions, legislation that would, if passed, reform pensions for certain New Brunswick public sector employees. In particular, the proposed legislation provides for the conversion of the pension plan now governed by the Public Service Superannuation Act to a shared risk…
Supreme Court of Canada Denies Leave to Appeal in Reduction of Retiree Benefits Case
Today, the Supreme Court of Canada (“SCC”) denied leave to appeal from a decision of the British Columbia Court of Appeal (“BCCA”) in Lacey v. Weyerhaeuser Company Limited. The case concerned changes to certain post-retirement benefits for retired salaried employees (“Retirees”) of Weyerhaeuser Company Limited (“Weyerhaeuser”), and a predecessor company. At issue were fully-funded post-retirement…
Update on Ontario’s Retirement Reforms and Initiatives
On Thursday, November 7, 2013, Ontario’s minority government released its economic outlook and fiscal review, titled Creating Jobs and Growing the Economy (the “Economic Outlook”). The Economic Outlook updates and also expands upon legislative and other reform initiatives that had previously been announced. In this FTR Now, we review the key retirement-related updates and developments…
2014 EI Rates Set, Pension and Retirement Savings Limits Announced
Further to the federal government’s announcement in September, on November 2, 2013, HRSDC published a Resolution providing notice that the 2014 employment insurance (“EI”) premium rate for 2014 for residents of all provinces (with the exception of Québec) is maintained at $1.88 per $100 of insurable earnings. The 2014 EI premium rate for Québec residents is…
Federal Government Announces Budget Bill No. 2
On October 22, 2013, the federal government announced the introduction of the Economic Action Plan 2013 Act, No. 2. The Bill would, if passed, implement key measures from Economic Action Plan 2013 (the Budget), as well as certain previously announced tax measures. Among other things, the Bill would: freeze Employment Insurance premium rates for three…
Who’s Who Legal August 2013 Issue Recognizes Hicks Morley as Leading in Labour, Employment and Pensions
Hicks Morley’s Stephen Shamie, and John Brooks were mentioned in the September 2013 edition of Who’s Who Legal in an article entitled, “Management Labour & Employment Marketplace Analysis.” The article featured lawyers who are specialists on management-side issues for labour and employment, and pension law, and stated as follows: “Hicks Morley Hamilton Stewart Storie fields…
Financial Services Tribunal Interprets the Accrued Benefit Protections of the Pensions Benefits Act (Ontario)
On August 15, 2013, the Ontario Financial Services Tribunal (“FST”) issued its decision in Royal Ontario Museum Curatorial Association v. Ontario (Superintendent Financial Services), concerning an amendment made to The Royal Ontario Museum Pension Plan (“Plan”). The Plan is a defined benefit (“DB”) pension plan. At issue before the FST was whether an amendment to…
Sean Sells Quoted in Law Times
Hicks Morley’s Sean Sells was quoted in the August 19, 2013 edition of Law Times magazine in an article entitled, “Focus: Spike in pension-related human rights litigation.” The article discusses the influx of pension claims and cautions that a successful claim could have damaging consequences on a pension plan. Sean states, “Employers and pension plans…