The Financial Services Commission of Ontario (“FSCO”) released its Guidance Note (PDF) with respect to how it expects plans to apply the revised Canadian Institute of Actuaries’ (“CIA”) Practice-Specific Standards for Pension Plans (the “Standards”). The Guidance Note expressly states that the application of some of the CIA revisions to the Standards, which became effective…
Tag: Legislative Initiative
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…
Ontario Announces Safety Blitz Focusing On Young Workers
On April 27, 2011, the Ontario government announced that it will launch a safety blitz on May 1 intended to protect young workers by ensuring that employers are complying with regulations under the Occupational Health and Safety Act. In part, the initiative will focus on whether young workers are: being instructed, trained and supervised on…
PSLRTA Consultations Relating to Proposed Amalgamation of CASs Initiated by Ontario
On April 14, 2011, the Ontario Ministry of Labour announced public consultations relating to the proposed amalgamation of 13 Childrens’ Aid Societies (“CASs”). The initiative was proposed by the Commission to Promote Sustainable Child Welfare (the “Commission”), which the Ontario government established in 2009. In part, the Commission is tasked with supporting the financial sustainability…
Submissions to the New Brunswick Pension Task Force
The Pension Task Force, established to examine the long-term stability and security of pensions in New Brunswick, is seeking submissions from the public regarding the pension plan issues under review including: the rules protecting employees and pensioners; ensuring the long-term sustainability of the pension promise made to workers; and the effectiveness of structures meant to…
Ontario 2011 Budget Introduced
On March 29, 2011, the Ontario government introduced its 2011 Budget, “Turning the Corner to a Better Tomorrow” (PDF). Highlights in the Budget of interest to employers include: a general consolidation effort in respect of the broader public sector, including moving to “more coordinated bargaining in sectors where it is appropriate” and pursuing options for…
Draft Pension Regulations (Asset Division on Marriage Breakdown) Posted for Public Comment
On March 3, 2011, the Ontario government posted draft regulations under Bill 133, the Family Statute Law Amendment Act, 2009, and a related Consultation Paper for public review and comment. Among other family law-related matters, Bill 133 amends the Pension Benefits Act and creates new rules governing both: (1) the valuation of pension assets by…
Proposed AODA Integrated Accessibility Regulation Posted For Public Comment
On February 1, 2011, the Ontario government published its proposed Integrated Accessibility Regulation (“IAR”) under the Accessibility for Ontarians with Disabilities Act, 2005 (“AODA”) for final public review and commentary. This draft regulation reflects public input received on the initial draft Integrated Accessibility Standard summary of proposed regulatory requirements released in September 2010. Among the…
TTC “Essential Service” Legislation to be Introduced
On February 22, 2011, the Ontario government announced plans to introduce the Toronto Transit Commission Labour Disputes Resolution Act, 2011, legislation designating the Toronto Transit Commission an essential service. The legislation, if passed, would provide for binding arbitration by a neutral third party where a collective agreement cannot be reached through bargaining, effectively banning strikes…
FSCO Releases Plan Administrator Guideline for Public Consultation
On December 15, 2010, the Financial Services Commission of Ontario (“FSCO”) posted a draft consultation policy (the “policy”) regarding the management of inquiries and complaints by plan administrators. FSCO also posted a draft consultation guideline for developing a written policy (the “guideline”) on managing inquiries and complaints from plan beneficiaries for public review and commentary….