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.
Tag: Pensions
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, Jordan Fremont, 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, Jordan Fremont, 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…
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)…
Canadian HR Reporter Publishes an Article Co-Authored by Paul Migicovsky on New Mortality Assumptions and Pension Plan Administration
Paul Migicovsky authored an article in the Canadian HR Reporter on May 16, 2016 entitled “More Than Meets the Eye.” The article…
Northumberland Chapter HRPA Seminar
Topic Pension Plans and Employers’ Obligations