On Thursday May 2, 2013, the Ontario government introduced its 2013 Budget, entitled A Prosperous and Fair Ontario (the “Budget”). The government also introduced Bill 65, the Prosperous and Fair Ontario Act (Budget Measures), 2013 (“Bill 65”), omnibus legislation designed to implement some of the proposals contained in the Budget. The Budget announced that the…
Tag: Single Employer Pension Plan (SEPP)
Ontario Budget – Highlights for Employers
On Tuesday, March 27, the Ontario Government introduced its 2012 Budget, which is entitled Strong Action for Ontario (the “Budget”). The Government also introduced Bill 55, the Strong Action for Ontario Act (Budget Measures), 2012 (“Bill 55”), omnibus legislation designed to implement a number of the proposals contained in the Budget. The Budget sets out…
Ontario Government Announces Pension Funding Relief
Spurred on by the current economic unrest, the Ontario Government announced yesterday that it will introduce legislation in early 2009 to provide pension plans with solvency funding relief. Following on the heels of the release of the Report of the Expert Commission on Pensions, the proposed temporary solvency relief is intended to better ensure the…
Ontario Expert Commission on Pensions Releases Report
The Ontario Expert Commission on Pensions (the “Expert Commission”) released its much anticipated Report “A Fine Balance” to the public today. The full Report is 222 pages and contains 142 recommendations “for reforming and reinvigorating Ontario’s pension system”. HIGHLIGHTS OF KEY FINDINGS AND RECOMMENDATIONS New Regulatory Regime Recommended The Expert Commission recommended that the current…