Articles 2024

The Ontario government has posted draft criteria for the exemption of newly established broader public sector jointly sponsored pension plans (JSPP) from solvency funding requirements.

FSCO has finalized the Guidance Note regarding Buy-In Annuities for Defined Benefit Plans.

The Applicant bears the onus of proving a prima facie case of entitlement to a pension benefit under the plan.

The Ontario Court of Appeal allowed an appeal of the trial judge's decision, finding that counsel may communicate with an expert on a draft report and assist in the preparation of that report.

The Quebec Superior Court has refused to reconsider White Birch in light of its decision in Timminco.

Bill 34, An Act to Amend the Supplemental Pension Plans Act with respect to the funding and restructuring of certain multi-employer pension plans, was introduced for first reading on February 18, 2015. If passed, this bill will amend the Quebec Supplemental Pension Plans Act to introduce special measures for the funding of certain multi-employer pension plans as well as rules applicable to the restructuring of those plans when contributions are found to be insufficient.

Amendments to the Pension Benefits Standards Regulations, 1985 (Canada) (PBSR) regarding pension plan investments, defined contribution (DC) plans and disclosure of information to plan members, among other things, were published in the Canada Gazette this week, and are scheduled to come into force on April 1, 2015 and July 1, 2016.

Regulations 36/15, 37/15 and 38/15 amend regulations under the Pension Benefits Act with respect to public sector divestments, letters of credit and solvency funding relief for certain public sector plans.

FSCO has published a final Investment Guidance Note regarding Prudent Investment Practices for Derivatives. The Note sets out FSCO’s expectations for plan administrators who choose to invest plan assets in derivatives.

Ontario introduced Bill 57, Pooled Registered Pension Plans Act, 2014 for first reading on December 8, 2014. If passed, the Bill will provide a legal framework for the establishment and administration of pooled registered pension plans.