Implementation of Key Ontario Pension Reform Measures is Imminent

On April 30, 2012 and May 3, 2012, the Ontario Ministry of Finance issued two separate draft regulations that propose changes to the general Regulation 909 under the Ontario Pension Benefits Act (the “PBA Regulations”). Together, these two draft regulations are referred to in this FTR Now as the “Draft Regulations.” As discussed in our…

Ontario Releases Proposed Grow-In Benefit Regulations

Further to the release of pension reform proposals, on Thursday, May 3, 2012 the Ontario government published additional draft amendments to General regulation 909 under the Pension Benefits Act (“Act”). As anticipated, the draft regulations prescribe additional “activating events” or circumstances that would trigger grow-in benefits for the purpose of s. 74(1), paragraph 3 of…

Stephanie Kalinowski Featured in Benefits Canada

Hicks Morley’s Stephanie Kalinowski was featured in the May 2012 edition of Benefits Canada in the “Your Say” section of the publication. In the column, Stephanie answers a question related to grow-in benefits for Ontario pension plan sponsors. She provides a brief summary of the implications that the new grow-in rule will have.

Long-Awaited Grow-In, Regulatory Pension Reforms Released

On Monday, April 30, 2012, the Ontario Ministry of Finance published long-awaited, proposed regulatory amendments under the Pension Benefits Act (“Act”), including additional, proposed prescribed “activating events” for the purposes of grow-in benefits that come into force on July 1, 2012, for public commentary.

Ontario Introduces Draft Pension Reform Legislation

INTRODUCTION Following on the heels of the Report of the Ontario Expert Commission on Pensions (“OECP”), the Ontario Government released draft pension reform legislation on December 9, 2009. Bill 236, Pension Benefits Amendment Act, 2009 (“Bill 236”) marks the beginning of what the Government is calling a multi-stage pension reform process to modernize Ontario’s pension…