Articles

Ontario filed regulations amending General Regulation 909 to exempt “securities issued by the Government of the United States of America” from the 10% rule and to make certain changes with respect to letters of credit.

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.

As this year’s Pensions & Benefits Section Executive draws to a close, I’d like to take a moment to thank our 2012/2013 executive members for their service.

Sutherland v. CAW-Canada, Local 1090 and Lear Canada Corporation, [2012] FST File No. P0504-2012 (F.S.T.) - Employee Not Entitled to Extra Service as Collective Agreement Provision Not Reflected in Plan

Federal and Ontario

Since the last report in January, information on the following items has been posted to the Pensions section of FSCO’s website.

Sun Indalex Finance, LLC v. United Steelworkers, [2013] SCC 6, Northern Employee Benefits Services v. Rae-Edzo Community Services Authority, [2012] NWTSC 61 (N.W.T.S.C.),Professional Institute of the Public Service of Canada v. Canada (Attorney General) [2012] SCC 71 (S.C.C.)...