My Updates
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Federal Budget 2021
The Federal government released its budget for 2021, which includes the following pension and benefit related announcements . . .
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Retraite Quebec Newsletter re Bill 68 Amendments
Retraite Québec published a newsletter reviewing Bill 68, An Act mainly to allow the establishment of target benefit pension plans, which came into force on December 11, 2020 . . .
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Ontario Proposes Amendments re Pension Benefits Regulations
Ontario has published two sets of proposed amendments to the regulations under the Pension Benefits Act. These proposals relate to the Pension Benefits Guarantee Fund (PBGF) and (expired) temporary solvency funding relief . . .
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Saskatchewan Amends Pension Benefits Regulation
Saskatchewan published Regulation 25/2021, amending The Pension Benefits Regulations, 1993. The amendment makes changes in relation to the Saskatchewan Teachers’ Retirement Plan (the Plan . . .
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Nova Scotia Introduces Bill 87 re Pension Benefits
Nova Scotia introduced Bill 87, Pension Benefits Act (amended), for first reading on April 6, 2021 . . .
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Regional Municipality of Waterloo (Grand River Transit) v. Unifor Local 4304, 2021 CanLII 23948 – Arbitrator Agrees with Employer’s Interpretation of Early Retirement Provision
As of the time of the grievance, the grievor had just over 14 years of service in the OMERS Pension Plan, was 57 years old and has been absent from work due to a chronic medical condition. At issue was whether the grievor qualified for an unreduced early retirement benefit for members who are 55 years of age or older and permanently partially disabled . . .
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Quebec Guidance re Actuarial Assumptions
Retraite Québec published instructions on the actuarial assumptions and methods applicable to actuarial valuations of supplemental pension plans after December 30, 2020 . . .
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Federal Regulations re Canada Labour Code & Canada Recovery Benefits
Further to an earlier announcement, the federal government has published regulations increasing COVID-19 benefits and federal leaves of absence . . .
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McHayle v. Ontario (CEO of FSRA), 2021 ONFST 2 – Former Plan Member Not Entitled to Excess Commuted Value on Transfer
In 2015, McHayle, an Ontario government employee, was promoted to a management position. As a part of this promotion, his pension was transferred from the OPSEU Pension Plan to the Public Service Pension Plan (PSPP) pursuant to the Reciprocal Transfer Agreement (RTA . . .
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Laurentian University of Sudbury, 2021 ONSC 1975 – Court Grants Pension Relief Requested
On February 1, 2021, the Ontario Superior Court granted an Initial Order under the Companies’ Creditors Arrangement Act (CCAA), providing Laurentian University (Laurentian) with protection and relief under the CCAA. This Initial Order was amended on February 11, 2021 to stay the payment of any pre-filing or post-filing special payments to Laurentian's defined benefit pension plan (the Plan . . .
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