More change is coming to the administration of pension plans in Ontario. Reforms to pension legislation have been ongoing since 2009 – and with three recent developments under the Ontario Pension Benefits Act (PBA) effective in 2017…
Tag: Pension Benefits Act
Blog Post Written by Natasha Monkman Mentioned in Benefits and Pensions Monitor on Pension Portability in Ontario for Retired Members
A Human Resources Legislative Update blog post written by Hicks Morley’s Natasha Monkman was mentioned in the January 16, 2017 Benefits and Pensions Monitor Daily News Alert. The alert summarizes Natasha’s post titled, “Clarifying Pension Portability in Ontario for Retired Members…
FTR Quarterly – Issue 4, Volume 1
This issue features articles on; Human Resources Trends and Issues to Watch in 2017, the Top 10 Developments in Human Resources Law in 2016 and the Featured Lawyer is Amy R. Tibble…
Clarifying Pension Portability in Ontario for Retired Members
With the publication of draft regulations to support recent amendments to the Pension Benefits Act (PBA), the PBA will soon expressly permit…
Ontario’s Bill 70: The New Face of Pension Regulation Revealed
On November 16, 2016, the Ontario government introduced Bill 70, Building Ontario Up for Everyone Act (Budget Measures), 2016 (Bill 70). Bill 70 is omnibus legislation that includes various pension-related initiatives, including substantive changes to certain pension minimum standards…
Ontario Proposes Significant Overhaul of Pension Regulatory Framework
On November 16, 2016, the Ontario government introduced Bill 70, Building Ontario Up for Everyone Act (Budget Measures), 2016, omnibus legislation that would, among other things: enact the Financial Services Regulatory Authority of Ontario Act, 2016 to establish a new framework for the creation of the Financial Services Regulatory Authority of Ontario (FSRA), replacing both…
New Rules for Administrator Appointment & Advisory Committee Establishment
On October 31, 2016, the Ontario government filed new regulations under the Pension Benefits Act (PBA) to implement the measures set out below. Appointment of administrator. Effective October 31, 2016, the PBA regulations are amended to set out the prescribed circumstances in which the Superintendent may appoint an administrator for a pension plan or act…
Extended Solvency Relief for Broader Public Sector Plans
On October 31, 2016, the Ontario government filed new regulations under the Pension Benefits Act (PBA) to implement additional solvency funding relief for certain broader public sector (BPS) plans. Subsequent solvency funding relief re stage two. Effective October 31, 2016, O. Reg. 350/16, amending O. Reg. 178/11 (Solvency Funding Relief For Certain Public Sector Pension…
Ontario Consults on (Revised) Proposed Amendments to Advisory Committee Regulations
The Ontario government is consulting on a revised proposal for amending the Pension Benefits Act(PBA) regulations with respect to Pension Advisory Committees (PACs). The consultation is open only until September 12, 2016…
Review of Ontario’s Solvency Funding Framework for Defined Benefit Pension Plans Sets Out Potential Options For Change
As described in our FTR Now of July 26, 2016, Marshall Consultation Paper on Ontario Pension Solvency Funding Framework Released, the Ontario government is undertaking a review of the current solvency funding framework (the Marshall Review) under the Ontario Pension Benefits Act (PBA)…