Longer life expectancies and workplace demographics that often skew toward the more mature end of the spectrum are also complicating factors. And as pension law and regulation continue to evolve, a good understanding of the legal framework, best practices and risk management is critical to successful plan administration.
Tag: Pensions
Eight Hicks Morley Lawyers Recognized in Who’s Who Legal: Employment, Labour and Benefits 2019
Hicks Morley is proud to announce that eight of the firm’s lawyers are recognized by the Who’s Who Legal: Labour, Employment & Benefits 2019 annual international compendium of lawyers.
Notice of Intended Decision Considers Whether Vacation Pay Forms Part of Pensionable Earnings
The Ontario Superintendent of Financial Services (Superintendent) issued a Notice of Intended Decision (NOID) in late 2018 that considered whether vacation pay should be factored into a pension plan’s definition of pensionable earnings. The NOID indicates that, in the absence of clear exclusionary language, the Superintendent will interpret the phrase “base pay” to include vacation…
Hicks Morley Recognized as a Leading Firm by The Legal 500 Canada 2019
Hicks Morley has been recognized as a leader in the fields of Labour and Employment and Pensions law by The Legal 500 Canada 2019 guide. Clients describe Hicks Morley as “the most prominent employment boutique in the country.”…
Pension Funding Reform Continues: Taking Aim at Target Benefit Multi-Employer Pension Plans
Pension plans that meet the definition of specified Ontario multi-employer pension plans (SOMEPPs) are one step closer to having the option to convert accrued defined benefits (DB) to target benefits (TB) – and one step closer to a permanent exemption from solvency funding. If your organization participates in a SOMEPP, find out what this could mean for your organization in this FTR Now.
Quebec Passes Legislation to Mirror CPP Enhancements and Makes Changes to its Pension Legislation
On February 21, 2018, Bill 149, An Act to enhance the Québec Pension Plan and to amend various retirement-related legislative provisions, was passed by the Quebec legislature. QPP Enhancements As outlined in our previous update, Bill 149 enhances the Quebec Pension Plan (QPP), in a manner similar to the forthcoming enhancements to the Canada Pension…
Hicks Morley Recognized as a Leading Firm by Legal 500 Canada 2018
Hicks Morley has been recognized as a leader in the fields of Labour and Employment and Pensions law by the Legal 500 Canada 2018 guide. Highlighted by clients as “at the top of its field,” Hicks Morley “has the depth and experience to respond quickly with a complete view of the alternatives and risks.”
FTR Now Written by Natasha Monkman, Stephanie Kalinowski and Paul Migicovsky Mentioned in Benefits and Pensions Monitor on the Next Wave of Pension Reform
An FTR Now written by Hicks Morley’s Natasha Monkman, Stephanie Kalinowski and Paul Migicovskywas was mentioned in the November 21, 2017 Benefits and Pensions Monitor Daily News Alert. The alert summarizes the FTR Now titled “Ontario’s Next Wave of Pension Reform”, which discusses the new legislation that will, if passed, change the retirement framework in Ontario – and the rules around pension plan administration, governance and funding.
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…
Stephanie Kalinowski Quoted in Benefits Canada on New CAPSA Reviews to Look at Decumulation, Missing Members
Benefits Canada quoted Hicks Morley’s Stephanie Kalinowski in a July 5, 2017 article titled “New CAPSA reviews to look at decumulation, missing members. The article explains the review The Canadian Association of Pension Supervisory is planning for this summer, looking into retirement projections and decumulation options for defined contribution pension plans, as well as developing guidance for plan administrators around missing members…