Ontario funding reform update: Ontario requires amendments to Statements of Investment Policies and Procedures and plan texts

Nov 14, 2018

As part of Ontario’s funding reform which became effective May 1, 2018, most Ontario-registered defined benefit (DB) pension plans will have to make amendments to their Statements of Investment Policies and Procedures (SIPPs) and pension plan...

Ontario draft policy: surplus withdrawal upon wind-up

Nov 14, 2018

On October 15, 2018, the Financial Services Commission of Ontario (FSCO) announced that it was in the process of updating FSCO’s surplus policies based on changes to the Pension Benefits Act that became effective on July 1, 2012.

Quebec Human Rights Tribunal holds that students are entitled to same wages as those of other employees in the same role

Oct 22, 2018

The Quebec Human Rights Tribunal (the “Tribunal”) recently ruled that offering a wage rate to student employees that is lower than that of casual and regular employees doing the same work is discriminatory.

Consultations respecting un-locatable members and unclaimed balances in federal plans

Aug 16, 2018

Plan administrators across Canada have had problems dealing with un-locatable or missing pension plan members, and dealing with unclaimed pension amounts.

BC court finds that multi-employer pension plan entitled to keep information confidential

Aug 16, 2018

A British Columbia court has overturned the decision of a provincial privacy commissioner that the Superintendent of Pensions is required to turn over information related to union-sponsored multi-employer pension plans to a business association.

Funding policy implementation for defined benefit pension plans registered in Quebec

Aug 16, 2018

Defined benefit (DB) pension plans registered in Quebec are required to adopt a funding policy by January 4, 2019.

B.C. proposes all long term disability plans be insured

Jul 16, 2018

The British Columbia Ministry of Finance has undertaken a review of the province’s Financial Institutions Act and Credit Union Incorporation Act to consider the regulatory framework governing the financial sector.

Update: Quebec adopts prohibition on orphan clauses and expands leaves of absence

Jul 16, 2018

Bill 176, “An Act to amend the Act respecting labour standards and other legislative provisions mainly to facilitate family-work balance,” (the Act) was adopted on June 12, 2018 by the Quebec National Assembly.

Ontario adopts new funding regulations

May 16, 2018

On April 20, 2018, new Ontario funding regulations were filed by the Ontario government.

Ontario adopts buy-out annuity regulations

May 16, 2018

On April 3, 2018, the Ontario government filed O. Reg. 193/18, setting out rules for the purchase of buy-out annuities from an insurance company.