Today, the Supreme Court of Canada denied leave to appeal from the Ontario Court of Appeal decision in Carrigan v. Carrigan. The Court of Appeal’s decision awarded the payment of the pre-retirement death benefit payable under an Ontario registered pension plan to a member’s designated beneficiaries rather than to his common law spouse (Ms Quinn),…
Tag: Pension Benefits Act
Supreme Court Denies Leave in Carrigan
The Supreme Court of Canada will not be providing further clarification regarding the administration of pre-retirement death benefits under section 48 of the Ontario Pension Benefits Act (“PBA”). Today, the Court denied leave to appeal in Quinn v. Carrigan. As first discussed in our FTR Now “Ontario Court of Appeal Decision Rewrites the Pension Pre-Retirement…
SCC to Render Leave to Appeal Decision in Carrigan
On March 28, 2013, the Supreme Court of Canada will render its leave to appeal decision in Quinn v. Carrigan. The majority of the Ontario Court of Appeal awarded the payment of the pre-retirement death benefit payable under an Ontario registered pension plan to a member’s designated beneficiaries rather than to his common law spouse…
Regulation under Section 80.1 of the Pension Benefits Act Proposed
The Ontario government has proposed a new regulation relating to pension asset transfers made under section 80.1 of the Pension Benefits Act (“Act”). Proposed content for this regulation was previously posted for consultation in July 2011. This regulation is required before section 80.1 of the Act comes into effect. Once proclaimed into force, that section…
Carrigan v. Carrigan Estate Update: Ontario Pension Regulator Supports Common-Law Spouse’s Appeal
As first discussed in our FTR Now of November 7, 2012 “Ontario Court of Appeal Decision Rewrites the Pension Pre-Retirement Death Benefit Regime“, the decision in Carrigan v. Carrigan Estate fundamentally altered the interpretation of spousal rights and priorities relating to payment of pre-retirement death benefits. The Court of Appeal awarded the pre-retirement death benefit payable under…
Supreme Court of Canada Weighs in on Plan Deficits and the Fiduciary Duty of Pension Plan Administrators in an Insolvency: Sun Indalex Finance, LLC v. United Steelworkers
INTRODUCTION On February 1, 2013, the Supreme Court of Canada issued its highly anticipated decision in Sun Indalex Finance, LLC v. United Steelworkers, largely overturning the 2011 Ontario Court of Appeal decision. The Supreme Court upheld an expansive definition of the deemed trust under the Ontario Pension Benefits Act (“PBA”) and struck down a constructive…
Algoma Steel Pension Plan Regulation Amended
On January 11, 2013, the Ontario government filed O. Reg. 7/13, amending O. Reg. 202/02 “Algoma Steel Inc. Pension Plans” made under the Pension Benefits Act. The regulation is effective as of the date of filing. It makes a number of housekeeping amendments to O. Reg. 202/02 by changing the name “Algoma Steel Inc.” to…
PBA Regulation Relating to HOOPP, CAAT/OPSEU Pension Plans Filed
On December 20, 2012, the Ontario government filed O. Reg. 447/12, which amends Regulation 909 made under the Pension Benefits Act. O. Reg. 447/12 adds a section to Regulation 909 that states the administrator of any of the Colleges of Applied Arts and Technology Pension Plan, the Healthcare of Ontario Pension Plan and the Ontario…
Third Window for BPS Solvency Funding Relief Proposed
On December 5, 2012, the Ontario government posted a regulatory proposal regarding amendments to O. Reg. 178/11 (Solvency Funding Relief for Certain Public Sector Pension Plans), made under the Pension Benefits Act. Comments on the proposal are due by January 20, 2013. Under the proposal, the third and final window for solvency funding relief for…
PBA Letters of Credit Amendment Proclaimed Into Force
Section 3 of Schedule 44 to the Strong Action for Ontario Act (Budget Measures), 2012, has been proclaimed into force effective January 1, 2013. This section repeals and replaces 55.2(12) of the Pension and Benefits Act to provide that section 55.2, Letters of Credit, will not apply with respect to a jointly sponsored pension plan…