Articles 2020

Ontario published four proposed regulations, which address requirements for SIP&Ps, statements for former and retired members, changes to accounting standards and direct payments from DC pension plans.

Upon Shi’s termination of employment, her DC account was transferred to an RRSP on a non-locked-in basis. Shi complained that: (i) the pension contributions should not have been deducted from her last two pay cheques; and (ii) she wanted the DC account transferred on a locked-in basis. The Superintendent refused to make the order sought because, in his view, Shi’s DC account had been administered in accordance with the plan and the Ontario Pension Benefits Act (PBA).

The Canadian Association of Pension Supervisory Authorities (CAPSA) has finalized its Defined Contribution Pension Plans Guideline.

On April 24, 2013, the federal government announced that it is launching consultations on a potential federal framework for Target Benefit Plans, or TBPs. TBPs would be a new, voluntary, sustainable and flexible pension option available to federally regulated private sector employers and Crown Corporations.