On Tuesday, December 14, 2010, the federal government proposed a number of regulatory amendments to the Pension Benefits Standards Regulations, 1985 for public commentary. The proposed amendments are designed to increase protection of plan members and retirees and would, in part: permit plan sponsors to secure properly structured letters of credit in lieu of making…
Tag: Legislative Initiative
Expert Panel Tables Recommendations To Improve Health and Safety
On December 16, 2010, the Expert Advisory Panel on Occupational Health and Safety tabled its Report and Recommendations to the Minister of Labour (“Report”) on ways to improve workplace health and safety in Ontario. As recommended by the Report, the government announced the creation of a Chief Prevention Officer position, which will be tasked with…
WSIB Releases Work Reintegration Policies for Consultation
The Workplace Safety and Insurance Board has released interim Work Reintegration policies and a draft Work Reintegration NEER policy for stakeholder consultation. Stakeholders can submit their responses in writing until February 15, 2011. The interim Work Reintegration policies integrate Early and Safe Return to Work, Re-Employment and Labour Market Re-entry and are to become effective…
Ontario Releases Discussion Paper on Retirement Income System
On October 29, 2010, the Ontario government released a paper, “Securing our Retirement Future: Consulting with Ontarians on Canada’s Retirement Income System”, for public discussion, and reiterated its intention to amend the Pension Benefits Act in respect of employment-based defined benefit plans, among other matters.
Ontario Introduces Further Pension Reforms
On October 19, 2010, the Ontario government introduced Bill 120, the Securing Pension Benefits Now and for the Future Act, 2010. As previously reported, these pension reforms are intended to build on the first phase of reforms, which were passed earlier this year. The government has announced that the Bill 120 reforms would, if passed:…
WSIB Announces Funding Review of Unfunded Liability
On September 30, 2010, the Ontario government announced that Harry Arthurs will chair the Funding Review of the unfunded liability of the Workplace Safety and Insurance Board. As announced by the WSIB on the same date, the year-long Funding Review will gather input from experts and stakeholders regarding policy issues relating to the financial future…
Federal Government to Set Limits On EI Premium Rate Increase for 2011
On September 30, 2010, the federal government announced plans to limit the Employment Insurance (“EI”) maximum premium rate increase for 2011 to five cents per $100 of insurable earnings, and ten cents per $100 of insurable earnings for subsequent years. The rate increase is set by the Canada Employment Insurance Financing Board, which by November…
Federal Government Releases Consultation Draft of Legislative Tax Proposals
The Department of Finance released draft legislative proposals in July and August of 2010 to implement a variety of tax measures, including those first outlined in its 2010 Budget along with several previously announced tax initiatives, for public consultation. The proposals outline significant changes to the tax rules applicable to employee stock options that will:…
Ontario to Introduce Phase II Pension Reforms
On August 24, 2010, the Ontario government announced that further pension reforms to be tabled this fall will address almost 40 recommendations made by the Expert Commission on Pensions. The announcement indicates that this “broad package of pension reforms” will include: modifications to the funding requirements for multi-employer pension plans and jointly sponsored pension plans,…
Ontario Launches Safety Campaign for Construction Sites
On July 28, 2010, the Ontario government announced the launch of an eight-week campaign, together with its health and safety partners, which targets construction sites across the province. The focus of the campaign is to impress upon workers and employers the importance of putting safety first, through proper training and awareness of workplace dangers. Also…