News & Events
Updated FSRA Advice for Plan Administrators regarding Pension Division upon Marriage Breakdown
November 25, 2021
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
Practice Area
Pension and Benefits
OSFI Summarizes Responses to Its Climate Risk Discussion Paper
November 8, 2021
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
Practice Area
Pension and Benefits
Legal Opinion released in response to a request by the Canada Climate Law Initiative concludes pension fiduciaries must take climate change into account in their management of plan assets
July 21, 2021
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
Practice Area
Pension and Benefits
Federal Government Releases 2021 Budget
April 20, 2021
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
Practice Area
Pension and Benefits
Ontario Proposes to Require PBGF Claim Exposure Reporting as Part of 2021 Budget
March 25, 2021
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
Practice Area
Pension and Benefits
FSRA Releases Guidance on Leading Practices for Defined Benefit Multi-Employer Pension Plans
March 18, 2021
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
Practice Area
Pension and Benefits
Murray Gold Awarded the 2021 OBA Pension Award for Excellence in Pension & Benefits Law
February 26, 2021
We are pleased to announce that Murray Gold has been awarded the 2021 OBA Pension Award for Excellence in Pension & Benefits Law. The OBA Award of Excellence in Pensions and Benefits Law recognizes exceptional contributions and achievements in Pension & Benefits Law by members of the OBA. Murray is a leading lawyer in the
Practice Area
Pension and Benefits
CRA ISSUES TEMPORARY COVID-19 RELIEF MEASURES – SIMPLIFIED CLAIM FOR HOME EXPENSES FOR 2020 TAXATION YEAR
February 2, 2021
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
Practice Area
Pension and Benefits
OSFI Releases Discussion Paper and Seeks Industry Feedback on Climate-Related Risks
January 19, 2021
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
Practice Area
Pension and Benefits
Lesa MacDonald has assumed the role of Counsel in the Pensions and Benefits Department
December 1, 2020
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
Practice Area
Pension and Benefits, Labour Law