News & Events

The Financial Services Regulatory Authority of Ontario (“FSRA”) has finalized its guidelines for pension plan administrators dealing with the valuation and division of pension benefits upon marriage breakdown. These guidelines became effective on November 9, 2021, and will be reviewed by November 9, 2026. Scope These guidelines only apply to administrators of pension plans governed

On January 11, 2021, the Office of the Superintendent of Financial Institutions Canada (“OSFI“) published a discussion paper, Navigating Uncertainty in Climate Change: Promoting Preparedness and Resilience to Climate-Related Risks (the “Discussion Paper“), and launched a three-month consultation period in regards to it. The goal of the consultation was to engage federally regulated financial institutions (“FRFIs“), federally

Randy Bauslaugh’s “Climate Change: Legal Implications for Canadian Pension Plan Fiduciaries and Policy-Makers”,[1] a legal opinion written at the request of the Canada Climate Law Initiative, is the latest contribution to the discussion of whether pension plan administrators should be factoring climate change into their decision-making on investments. Bauslaugh concludes that the current scientific consensus

On April 19, 2021, Finance Minister Chrystia Freeland tabled the federal government’s 2021 budget, “A Recovery Plan for Jobs, Growth, and Resilience.”  In addition to confirming the federal government’s intention to proceed with certain previously announced tax measures affecting specified multi-employer pension plans (“SMEPs”) and health and welfare trusts, the 2021 budget  does contain some

In its 2021 budget, released on March 24, the Ontario Government announced that it will amend Regulation 909 under the Pension Benefits Act (the “PBA”), to require pension plan administrators to calculate and report their plan’s Pension Benefits Guarantee Fund (“PBGF”) claim exposure.  The Budget does not specify how a plan’s PBGF claim exposure will be determined and

On March 16, 2021, The Financial Services Regulatory Authority of Ontario (“FSRA”) released “Defined Benefit Multi-Employer Pension Plans – Leading Practices,” a Guidance document that is the result of a thematic review of a selected sample of 21 Ontario-registered Defined Benefit Multi-Employer Pension Plans (DB MEPPs) conducted in 2020. The Guidance begins by acknowledging the three

In its 2020 Fall Economic Statement, the federal government announced that, in light of the large numbers of Canadian taxpayers working from home due to the COVID-19 pandemic, the Canada Revenue Agency (the “CRA”) would simplify the process for claiming the home office expense deduction for the 2020 taxation year.  Details regarding the temporary simplified

On January 11, 2021, the Office of the Superintendent of Financial Institutions Canada (“OSFI“) released a discussion paper Navigating Uncertainty in Climate Change: Promoting Preparedness and Resilience to Climate-Related Risks, to engage federally regulated financial institutions (“FRFIs“), federally regulated pension plans (“FRPPs“) and other interested stakeholders in a dialogue on the risks resulting from climate

We are pleased to announce that, effective December 1, 2020, Lesa MacDonald has assumed the role of Counsel in the Pensions and Benefits Department of Koskie Minsky LLP. In her new role, Lesa will be taking on additional senior-level client relationship management responsibilities. She will continue her legal advisory work for clients of the Pension and

On Friday, November 27, 2020 the Department of Finance released its long awaited legislative proposals to amend the Income Tax Act provisions governing Employee Life and Health Trusts (“ELHTs”).   For the most part, these new draft proposals include some welcome changes and should facilitate the transition to an ELHT.  It should be noted that the