Ontario Bill 56 re ORPP January 19, 2015 Lesha Van Der Bij Ontario introduced Bill 56, Ontario Retirement Pension Plan Act, 2014, for first reading on December 8, 2014. If passed, the Bill will establish the basic framework for the Ontario Retirement Pension Plan.
Alberta EPPA Update re Filing Annual Valuations January 19, 2015 Lesha Van Der Bij Alberta has posted EPPA Update 14-05, which sets out the requirements for filing annual actuarial valuations.
Alberta Amendments Extending Solvency Funding Moratorium and Plan Amendment Deadlines January 19, 2015 Lesha Van Der Bij Alberta amends regulations under Employment Pension Plans Act.
ORPP Consultation Paper #2 January 19, 2015 Lesha Van Der Bij On December 17, 2014, the Ontario government released its second consultation paper regarding the Ontario Retirement Pension Plan. The paper identifies three key policy areas for discussion - (i) meaning of comparable plan; (ii) minimum earnings threshold; and (iii) supporting the self-employed - each of which is followed by a series of questions.
Ontario Amendments re SIPPs and Member Statements in Force December 09, 2014 Lesha Van Der Bij On November 27, 2014, amendments to the Regulations under the PBA came into force, revising the rules related to Statements of Investment Policies and Procedures and adding a new requirement to send pension statements to the plan’s former members and retired members.
Louben Sportswear Inc. v. Caisse de retraite des industries de la mode (UIOVD), 2014 QCCS 3260 (Que. Sup. Ct.) - Failure to Amend MEPP to Reflect Employer Withdrawal Results in Ongoing Liability for Plan Deficit December 09, 2014 Laura Stefan Louben Sportswear Inc. failed to ensure that a multi-employer pension plan in which it participated was amended to reflect its withdrawal from the plan. As a result, Louben was liable for its share of the plan deficit that had accumulated as of the wind up date (in 2012) rather than the lesser amount which had accumulated as of Louben's withdrawal date (in 2010).
Alberta Finance Issues Draft Interpretive Guidelines December 09, 2014 Lesha Van Der Bij Alberta Finance announced that it will be replacing all of its Policy Bulletins with Interpretive Guidelines. Over the past few months, it has released the first seven Guidelines in draft for comment.
Tarr Estate v. Tarr, 2014 BCCA 315 - Entitlement to Joint and Survivor Pension Not Waived in Separation Agreement November 11, 2014 Lesha Van Der Bij Former spouse did not waive entitlement to a joint and survivor pension in the separation agreement.
FSCO Draft Investment Guidance Note re Buy-In Annuities November 11, 2014 Lesha Van Der Bij FSCO has posted a Guidance Note for public consultation regarding Buy-In Annuities for Defined Benefit Plans.
FSCO Draft Investment Guidance Note re Prudent Investment Practices for Derivatives November 11, 2014 Lesha Van Der Bij FSCO has posted an Investment Guidance Note for public consultation regarding Prudent Investment Practices for Derivatives. The Note sets out FSCO’s expectations for plan administrators who choose to invest plan assets in derivatives.