Bill 177 Receives Royal Assent, Amends WSIA, OHSA, PBA and BPSECA

On December 14, 2017, Bill 177, Stronger, Fairer Ontario Act (Budget Measures), 2017, received Royal Assent. Bill 177 is omnibus legislation which amends several statutes, including the Workplace Safety and Insurance Act, 1997, the Occupational Health and Safety Act, the Pension Benefits Act and the Broader Public Sector Executive Compensation Act. Workplace Safety and Insurance…

The (Funding) Future is Here: Ontario Releases Pension Funding Reform Details

On December 14, 2017, the Ontario government published the long-awaited details to support the proposed reforms to funding rules for Ontario pension plans. The proposed regulations describe the amendments to the Pension Benefits Act Regulations that will, among other things: Alter solvency funding obligations, by reducing the solvency deficiency required to be funded (such that…

Stephanie Kalinowski Quoted in Benefits Canada on the Impact of Bill 177 on the Pension Benefits Act

Benefits Canada quoted Hicks Morley’s Stephanie Kalinowski in a November 16, 2017 article titled “Ontario makes ‘significant step’ with new bill addressing missing members, discharges.” The article introduces the new Bill 177 –  the Stronger, Fairer Ontario Act (Budget Measures), 2017, and discusses the changes it will bring to the Pension Benefits Act (PBA).

Ontario Amends PBA and PRPP Regulations; Introduces Legislation Affecting Police Sector Asset Transfers

Annuity Purchases on Wind Up On November 3, 2017, O. Reg. 412/17, amending Regulation 909 (General) made under the Pension Benefits Act (PBA), was filed. As discussed in our FTR Now, Ontario’s Bill 70: The New Face of Pension Regulation Revealed, amendments will be made to the PBA requiring administrators appointed by the Superintendent of…

Jordan Fremont Quoted in Benefits Canada on the Target-Benefits Pension Bill

Benefits Canada quoted Hicks Morley’s Jordan Fremont in an October 10, 2017 article titled “Can the Feds Overcome Labour Opposition to Pass Target-Benefit Pension Bill?” The article outlines three common myths about target-benefit plans including the risk and uncertainty for employees and pensioners, to which Jordan notes, “the extent to which [defined benefits] are guaranteed ultimately depends on the wherewithal of the funds and, where the fund isn’t sufficient, the financial stability of the sponsor.”

Blog Post Written by Stephanie Kalinowski and Natasha Monkman Mentioned in Benefits and Pensions Monitor on AMPing up Enforcement: Ontario’s Pension Regulator Gets New Teeth

An FTR Now written by Hicks Morley’s Stephanie Kalinowski and Natasha Monkman was mentioned in the October 4, 2017 Benefits and Pensions Monitor Daily News Alert. The alert summarizes the FTR Now titled “AMPing up Enforcement: Ontario’s Pension Regulator Gets New Teeth”, which discusses the new administrative money penalty regime applicable to registered Pension Plans in Ontario.