On September 7, 2012, the Office of the Superintendent of Financial Institutions set the basic rate for the Office year beginning on April 1, 2013 at $10.00, pursuant to the Assessment of Pension Plans Regulations. This rate applies to pension plans with a year-end between October 1, 2012, and September 30, 2013 and for newly…
Tag: Federal
Federal Government Introduces Helping Families in Need Act
On September 20, 2012, the federal government introduced Bill C-44, the Helping Families in Need Act, legislation that would, if passed, amend (among other things) both the Employment Insurance Act (“EI Act”) and the Canada Labour Code as follows: the EI Act will provide for a new specified sickness benefit for parents receiving EI parental…
Federal Wage Restraint Legislation Does Not Infringe Section 2(d) of Charter
Underscoring once again that section 2(d) of the Canadian Charter of Rights and Freedoms (“Charter”) only guarantees a meaningful process of collective bargaining and not a particular result, the Ontario Court of Appeal recently found that wage restraint legislation effectively prohibiting salary increases over a five-year period was not, in and of itself, unconstitutional. Association…
Ministry of Finance Publishes New Income Tax Proposals For Public Commentary
On August 14, 2012, the Ministry of Finance published new legislative proposals relating to the Income Tax Act and Regulations for public commentary. The proposals, which are designed to implement a range of Budget-related initiatives announced by the federal government earlier this year, include measures that would, if adopted, include an employer’s contributions to a…
Federal Government Publishes Pooled Registered Pension Plan Regulations
On August 10, 2012, the federal government published proposed regulations to support the Pooled Registered Pension Plans Act (“PRPP Act”). The Pooled Registered Pension Plan Regulations provide supporting details for the provisions of the PRPP Act respecting: the licensing conditions for a Pooled Registered Pension Plan (“PRPP”) administrator; the management and investment of funds in…
Federal Government Creates Panel on Labour Market Opportunities for Persons with Disabilities
Further to its Economic Action Plan 2012, the federal government has announced the creation of a Panel on Labour Market Opportunities for Persons with Disabilities. The Panel has been charged with identifying private sector successes and best practices regarding labour market participation of persons with disabilities. It will also identify barriers and disincentives to employment…
EI Regulations Giving Effect to Federal Budget 2012 Initiatives Now in Force
On June 20, 2012, Regulations Amending The Employment Insurance Regulations (“Regulations”) were registered and are now in force. Pilot Project No. 14, Pilot Project for Calculating Benefit Rate Based on Claimant’s 14 Highest Weeks of Insurance Earnings (Best 14 Weeks), previously scheduled to end on June 23, 2012, is extended by the Regulations and will…
Regulatory Amendments Proposed to Allow CPPIB/PSPIB to Rely on Prudent Person Standard
On June 23, 2012, the federal government published a proposed amendment to the Canada Pension Plan Investment Board Regulations which would repeal section 12 of the Regulations. That section establishes quantitative investment limits in respect of Canadian resource and real properties. Repeal of this section would align the Regulations with the Pension Benefits Standards Regulation,…
Federal Budget Bill Receives Royal Assent
On June 29, 2012, Bill C-38, Jobs, Growth and Long-term Prosperity Act, received Royal Assent. Bill C-38 is omnibus legislation intended to give effect to certain key initiatives outlined in the federal government’s Budget 2012. For more information about Bill C-38, see our April 27, 2012 blog post and our FTR Now, “Federal Budget 2012…
Pooled Registered Pension Plan Act Receives Royal Assent
The federal government has announced that Bill C-25, An Act relating to pooled registered pension plans and making related amendments to other Acts, will receive Royal Assent today, June 28, 2012. As previously reported, Bill C-25 is new legislation implementing the framework for federally regulated pooled registered pension plans (“PRPPs”).