On June 3, 2011, the Ontario government filed two regulations under the Pension Benefits Act. O. Reg. 195/11 amends General Regulation 909 by creating a new section, “Designated Jurisdictions and Agreements with Designated Jurisdictions”, and a Table listing multi-jurisdictional agreements entered into under section 100 of the Act, and the date on which the agreement…
Practice Area: Pensions, Benefits & Compensation
Canada Revenue Agency Provides Further Information about New Volunteer Firefighter Tax Credit
As originally announced in March of 2011 and confirmed with the re-introduction of the Federal Budget on June 6, the Budget proposes a non-refundable tax credit for volunteer firefighters for 2011 and future tax years. This credit will be available to volunteer firefighters who perform at least 200 hours of service for their communities during…
Federal Budget Reintroduced June 6, 2011
On June 6, 2011, the Minister of Finance, the Honourable James M. Flaherty, reintroduced the Government of Canada’s “Budget 2011, the Next Phase of Canada’s Economic Action Plan—A Low-Tax Plan for Jobs and Growth.” In this FTR Now we provide a brief overview of the Budget highlights. As anticipated, the Budget includes all of the…
Pension Benefits Act JSPP Amendments Come Into Force June 1, 2011
June 1, 2011 has been named as the day on which subsections 1 (9) and 3 (3) and section 16 of Bill 120, the Securing Pension Benefits Now and for the Future Act, 2010, come into force. These provisions relate to the recently reported filing of O. Reg. 177/11, and specifically, the change affecting jointly-sponsored…
Ontario Pension Funding and JSPP Regulations Released
On May 20, 2011, the Ontario government filed amendments to the Pension Benefits Act Regulations (“Regulations”) that implement the first of many anticipated regulatory measures stemming from “Phase II” of Ontario’s pension reform initiative. The amendments outlined in O. Reg. 177/11 are in support of earlier amendments to the Pension Benefits Act made by Bill…
Ontario Files New JSPP and Phase II Funding Pension Regulations, BPS Solvency Funding Relief Regulations
On May 20, 2011, the Ontario government filed two new regulations under the Pension Benefits Act. O. Reg. 177/11 contains several amendments to the Pension Benefits Act General Regulation 909 (“Regulations”) relating to measures first introduced by the government when it tabled Bill 120, Securing Pension Benefits Now and for the Future Act, 2010, which…
Ontario Signs Multi-Jurisdictional Pension Plan Agreement
On May 20, 2011, the Ontario government announced that it has signed the Agreement Respecting Multi-Jurisdictional Pension Plans (the “MJPPA”) (PDF) with the government of Quebec. The MJPPA will be effective July 1, 2011 for multi-jurisdictional pension plans where the “major authority” (province of registration) is Ontario or Quebec, and the pension plans have Ontario and…
Deviation From Prescribed Waiver Form Proves Costly
In the administration of a pension plan, there are a number of situations which call for the use of prescribed forms. These forms often require decisions to be made that can affect the pension plan entitlements of members and other plan beneficiaries. Sometimes, in an effort to adapt and/or make the prescribed forms more readable…
Hicks Morley Lawyers Named Leading Practitioners in the Canadian Legal Lexpert® Directory 2011
Hicks Morley congratulates each one of our lawyers who has been recognized in 2011 as a leading practitioner in Lexpert/Thomson Canada’s Canadian Legal Lexpert Directory 2011. Toronto Harvey A. Beresford, Q.C. Labour Relations Brenda J. Bowlby Labour Relations David W. Brady Workers’ Compensation John C. Field Employment Law Stephen J. Shamie Employment Law Labour Relations…
Proposed Changes to OMERS Target Emergency Services Employees and High Income Earners
On May 4, 2011, the OMERS Sponsors Corporation (“SC”) made public seven proposed changes to the OMERS pension plans. The proposals have been put forward by various individual SC members in connection with the SC’s annual review of the OMERS pension plans. There are two main objectives: (1) improving the funded position of the top-up…