On April 15, 2020, the federal government announced that, effective immediately, it is providing temporary relief to sponsors of federally regulated defined benefit (DB) pension plans, in light of the pandemic’s negative effect on the economy and the resulting financial constraints faced by many sponsors. For the remainder of 2020, there will be a moratorium…
Tag: Defined Benefit
Change on the Horizon: Ontario Pension Plan Funding Reform is Coming Soon
Earlier this year, the Ontario government announced proposed reforms to pension plan funding that will have a significant impact on employers and plan administrators with plans registered in Ontario. These changes are expected to be part of the government’s Fall agenda, and will be of particular interest to employers who provide single employer defined benefit (DB) pension plans or participate in multi-employer pension plans (MEPPs) in Ontario.
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)…
Third Round of Ontario Temporary Solvency Funding Relief for DB Pension Plans is Now in Force July 1, 2016
Following the release last month of draft Regulations, the Ontario government has now adopted amendments…
Ontario Pension Solvency Funding Framework Under Review
Ontario registered defined benefit (DB) pension plans must be funded on the greater of a going concern or solvency basis…
CPBI Fundamentals Series 2010-2011
Topic Fundamental Fundamentals: A Pension Plan Primer Agenda
Federal Post – First Edition
Dear Friends, We are excited to bring to you our first edition of the Federal Post, a newsletter designed exclusively for federally regulated employers. The Federal Post discusses issues that are topical, timely and important. It will cover the gamut of matters which impact your workplace, from human rights to minimum standards to labour relations…
Natasha Monkman featured in Benefits and Pensions Monitor
Benefits and Pensions Monitor featured Hicks Morley’s Natasha Monkman in their September 26, 2014 Daily News Alerts. The article features Natasha’s recent presentation at the Canadian Pension & Benefits Institute’s Atlantic regional annual conference, and summarizes her presenation as follows: “Fees, selection of default funds, and imprudent selection of investments are the leading causes of legal action in the U.S….
Benefits Canada Publishes an Article by Natasha Monkman
An article co-authored by Hicks Morley’s Natasha Monkman was published in the August 6, 2014 edition of Benefits Canada. Many employers are concerned with the volatile funding of defined benefit pension plans. On the other hand, there is concern that defined contribution pension plans will not provide adequate retirement income for employees. The article entitled, “The future of workplace…
Pension Asset Transfers Made Easier
Long-awaited amendments to the Ontario Pension Benefits Act (“PBA”) regarding the transfer of assets between pension plans became effective on January 1, 2014. New supporting Regulations under the PBA[1] (the “Asset Transfer Regulations”) also came into force on January 1, 2014. This FTR Now provides a high-level overview of the new asset transfer regime. The…