News & Events

The Office of the Superintendent of Financial Institutions (OSFI) has issued a letter concerning COVID-19 to the federally-registered pension plans that it regulates. The letter summarizes actions that OSFI is taking to address issues stemming from COVID-19, and announces a regulatory freeze on portability transfers and annuity purchases, as well as the extension of certain

Ontario’s pension regulator, the Financial Services Regulatory Authority (“FSRA”), has released a statement on how the COVID-19 situation has impacted its operations. The statement also includes responses to some questions which may be arising for pension plan administrators, members, retirees and other stakeholders across Ontario during these uncertain times. FSRA’s statement can be accessed at

Bill 132 – entitled An Act to reduce burdens on people and business by enacting, amending and repealing various Acts and revoking various Regulations (“Bill 132”) – was tabled in the Ontario Legislature on October 28, 2019, proceeded to second reading on October 31, 2019, and received Royal Assent on December 10, 2019.  It includes

Last week, the Department of Finance released a set of draft legislative proposals clarifying the requirements for converting Health and Welfare Trusts (HWTs) to Employee Life and Health Trusts (ELHTs) and revising certain rules resecting ELHTs. The proposed changes are generally welcome and address many of the concerns raised by stakeholders. The proposed process for

On March 19, 2019, Finance Minister Bill Morneau tabled the federal government’s 2019 budget.  The budget contained a number of surprises, both in terms of what it included and what it omitted.  Perhaps most significantly for the pension and employee benefits industry, while the government reaffirmed its commitment to introduce tax measures to facilitate the

The application of commercial law concepts to pension and benefit plans often creates confusion for stakeholders in the pension and benefits industry. This article seeks to shed light on two basic but fundamental issues trustees and their advisors should keep in mind when acting for a pension or benefit fund and entering into legal relationships.

On September 25, 2018, just days before his retirement, Senator Art Eggleton moved second reading of Bill S-253, An Act to amend the Bankruptcy and Insolvency Act and other Acts and Regulations (pension plans). Bill S-253 seeks to accomplish two things: To amend the Bankruptcy and Insolvency Act (“BIA”) and the Companies’ Creditors Arrangement Act

The recent Ontario Human Rights Tribunal decision in Talos v. Grand Erie District School Board has shifted expectations on the ability of benefits plans to treat workers over 65 differently, on the basis that this is particular type of discrimination is excepted explicitly under the Ontario Human Rights Code (the “Code“). When Bill 211, “An

On April 20, 2018, the Government of Ontario filed long anticipated amendments to the general regulations under the Pension Benefits Act, which significantly change the funding requirements for defined benefit pension plans.  The regulations are the product of a public consultation begun by the Ontario government, initially announced in the 2015 Ontario Economic Outlook and

In Canadian Elevator Industry Welfare Trust Fund v Skinner, the Nova Scotia Court of Appeal considered what constituted discrimination in the denial of access to coverage for medicinal marijuana, emphasizing the deference that courts and tribunals will give to the administrator of a benefit plan in choosing what drugs the plan will cover. The case