Ontario: Proposed changes to Pension Benefits Guarantee Fund assessments

Feb 12, 2018

On January 19, 2018, the Ontario Ministry of Finance (the “MOF”) released a description of proposed changes to the assessment formula for the Pension Benefits Guarantee Fund (PBGF).

Manitoba: Proposed changes to the Pension Benefits Act

Feb 12, 2018

On January 10, 2018, Manitoba’s Minister of Finance launched a public consultation to strengthen the existing provincial pension system.

Ontario: Details on new rules for funding and annuity purchase

Jan 17, 2018

On December 14, 2017, the Ontario government released further details of its proposed new funding framework.

Québec: Regulation on funding policies and annuity purchases

Jan 17, 2018

The final version of the Regulation to amend the Regulation respecting supplemental pension plans (the “regulation”) was published on December 20, 2017 in the Gazette officielle du Québec. The regulation came into force on January 4, 2018.

Nova Scotia: Regulations on asset transfers

Jan 17, 2018

On November 28, 2017, the Nova Scotia government amended its Pension Benefits Regulations to establish clear criteria for asset transfers.

Leaves of absence: Updated rules affecting pension and benefit plans

Jan 17, 2018

Effective December 3, 2017, the federal Employment Insurance (EI) rules were updated to permit maternity benefits to be paid for up to 15 weeks, and parental leave benefits to be paid for up to 61 weeks.

Annuities, funding policies, variable benefits among changes in new Quebec pension rules

Jan 15, 2018

Benefits Canada: Plan sponsors and administrators finally have guidance on Quebec’s supplemental pension plan legislation, two years after initial amendments on Jan. 1, 2016.

Ontario: Draft legislation on new solvency funding framework

Dec 12, 2017

On November 14, 2017, the Ontario government introduced Bill 177, the Stronger, Fairer Ontario Act (Budget Measures), 2017 (Bill 177).

Quebec: Proposals regarding disparity clauses

Dec 12, 2017

In December 2016, the Quebec government set up a working group to study disparity in treatment clauses based on the date of hire in pension plans (also known as “orphan clauses”).

Alberta: New rule on commuted value payments

Dec 12, 2017

On November 21, 2017, the Government of Alberta amended the Employment Pension Plans Regulation (the “Regulation”) to establish a new commuted value payout option for Collectively Bargained Multi-Employer Plans that are under a solvency moratorium.