Ontario Passes Amendments to Permit Additional Electronic Beneficiary Designations

On May 12, 2020, the Ontario government introduced and passed Bill 190, COVID-19 Response and Reforms to Modernize Ontario Act, 2020 (Bill 190). Among other changes, Bill 190 amends the Succession Law Reform Act to permit electronic beneficiary designations, and makes a consequential amendment to the Pension Benefits Act (PBA). The amendments permit electronic beneficiary…

Benefits Canada Publishes an Article by Rayaz Khan on CEWS and CERB Government Programs

Hicks Morley’s Rayaz Khan authored an article published on April 14, 2020 in Benefits Canada titled “A Legal Update on the Government’s CEWS and CERB Programs.” The COVID-19 pandemic has created many complicated issues for employers. Prudent employers should ensure they’re aware of the resources that may be available during this uncertain time when information regarding government support is rapidly changing.

Canada Revenue Agency Announces Temporary COVID-19 Relief for Registered Pension Plans

In response to industry requests, the Canada Revenue Agency (CRA) announced on May 5, 2020 that the minimum 1% employer contribution rule applicable to defined contribution (DC) pension plans is temporarily suspended. In addition, the federal Department of Finance issued a comfort letter confirming that it will recommend an amendment to the Income Tax Regulations to extend the deadline for electing to purchase a leave of absence on a current-service basis. These measures are intended to temporarily assist the sponsors and administers of DC and defined benefit (DB) registered pension plans in light of the COVID-19 pandemic.

Ontario Temporarily Reduces Financial Penalties for Late PBGF Assessments

On April 30, 2020, the Ontario government filed Ontario Regulation 187/20 amending Regulation 909 made under the Pension Benefits Act. This amendment allows for significantly reduced financial penalties for late payment of a Pension Benefits Guarantee Fund (PBGF) assessment. Normally, an employer who fails to pay a PBGF assessment by the assessment date must pay…

Special COVID-19 Webinar: Compliance, Immigration & Employment

Hicks Morley and Green and Spiegel LLP have teamed up to bring you a special COVID-19 webinar focusing on Compliance, Immigration & Employment. The panel will asses the impact of COVID-19 on employer compliance from an immigration standpoint as well as employment-law related issues due to the pandemic.