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…

Post-Retirement Benefits Changes Affecting Members of the Ontario Public Service

On November 11, 2016 the government of Ontario and the Ontario Public Service Employees Union (OPSEU) reached an agreement regarding post-retirement benefits (PRBs) for members of the OPSEU Pension Plan. The Ontario government subsequently announced that the terms of that agreement would be extended to members of the Public Service Pension Plan (PSPP), subject to…

New Multi-Jurisdictional Pension Plan Agreement Now in Effect

Parties involved in the administration of pension plans have been waiting for Canadian pension regulators to agree to a new set of rules applicable to plans with members in more than one province. Recently, the governments of British Columbia, Nova Scotia, Ontario, Quebec and Saskatchewan signed a new Agreement Respecting Multi-Jurisdictional Pension Plans, which took effect July 1, 2016 (2016 Agreement)…

Operation of Pension and Benefit Plans do not Discriminate on the Basis of Age: Human Rights Tribunal of Ontario

Recent decisions of the Human Rights Tribunal of Ontario (the “Tribunal”) provide welcome guidance for employers who have been confronted with allegations that provisions of their pension and benefit plans discriminate on the basis of age under the Ontario Human Rights Code (the “Code”). In several decisions the Tribunal has held that some age-based distinctions…