News & Events

On May 19, 2017, the Ontario government announced that it intends to implement new funding rules for defined benefit pension plans and make certain other changes to the legislation governing pensions. This announcement follows up on the Solvency Consultation process that we previously reported on. The new funding framework described in the May 19th announcement includes:

In a previous Blog Post we reviewed highlights from the 2017 Federal Budget. The 2017 Ontario Budget was released on April 27, 2017. The Ontario Budget contains the significant commitment to a universal pharmacare program for persons under 25, as well as a number of updates with respect to various pension reform efforts. OHIP+ Children

The 2017 Federal Budget was presented by Finance Minister Bill Morneau last month, on March 22, 2017. Though it has far fewer major commitments than the previous budget from 2016, there are still some noteworthy provisions. Most provincial budgets have also been released by now, with Nova Scotia and Ontario being the two exceptions. Read

In Skinner v. Board of Trustees of the Canadian Elevator Industry Welfare Trust Fund (2017 CanLII 3240 (NS HRC)), the Nova Scotia Human Rights Commission has confirmed that denying access to medical marijuana can be discriminatory in certain contexts. Mr. Skinner was involved in a motor vehicle accident while working at ThyssenKrupp Elevator Canada in

Last week, Prime Minister Trudeau announced that the upcoming budget will not include a provision to tax employees on their employer-provided health and dental benefits. The question remains, however, whether the rumoured tax is really off the table for good or whether it is still in consideration as part of an ongoing review of tax

On December 8, 2016, the Building Ontario Up for Everyone Act (Budget Measures), 2016 (“Bill 70”) received Royal Assent. Among other things, the omnibus budget legislation enacts the Financial Services Regulatory Authority of Ontario Act, 2016, (the “FSRA Act”) setting out the framework for the creation of the new Financial Services Regulatory Authority (“FSRA”). By way of background, the Minister appointed

With little fanfare, the Federal Government has introduced legislation to amend the Pension Benefits Standards Act (“PBSA”) to regulate “target benefit” plans. These are plans that offer a formula-style “target” benefit that looks much like a defined benefit but that is not assured. Target benefit plans do not require past service funding guarantees from the

Ontario is currently in the process of reviewing solvency funding rules for single employer defined benefit (“DB”) pension plans under the Pension Benefits Act. On July 26, 2016, the Ministry of Finance released a “Review of Ontario’s Solvency Funding Framework for Defined Benefit Pension Plans” Consultation Paper soliciting feedback on a number of potential reforms

On June 20, 2016, Canada’s Finance Ministers reached an historic agreement to improve core retirement income benefits under the CPP. The agreement followed years of tumultuous pension politics, including an outright refusal in December 2013 by the Harper Government to consider any changes to the CPP. Following the breakdown in federal-provincial CPP discussions, the Wynne

On June 25, 2015 Co-op Atlantic, a co-operative wholesaler operating across Atlantic Canada and Quebec obtained protection from its creditors under the CCAA. Ten months later, in April, 2016, Co-op’s pension plan members received a letter that no retiree ever wants to receive. An actuarial and consulting firm, which had been appointed by the New Brunswick