My Updates
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B.C. Notice re Information Security Guidelines
The British Columbia Financial Services Authority published an advisory regarding the upcoming consultation on new information security guidelines . . .
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Toronto Hydro-electric System Limited v. Power Workers’ Union, 2020 CanLII 103922 – Deadline for Opting into Post-Retirement Benefits Not Age Discrimination
In 2000, Toronto Hydro announced that post-retirement benefit coverage would be reduced for employees retiring after December 31, 2010. In particular, only employees hired before July 1, 2000, with 25+ years’ service, at least 50 years old, and retiring with a pension on or before December 31, 2010 would be entitled to 100% reimbursement for medical and dental benefits. Toronto Hydro and the union subsequently agreed to extend the deadline to December 31, 2020 . . .
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OSFI Solvency Information Return
The Office of the Superintendent of Financial Institutions has updated its Instruction Guide to assist federally-registered defined benefit plan administrators when completing Solvency Information Returns (SIR . . .
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Prime v. Prime, 2020 SKQB 326 – Pension Division Includes Excess Contributions
As a part of the Primes' divorce proceedings, the Saskatchewan Court of Queen's Bench was asked to review the division of Ms Prime's pension. In particular, the Court considered whether the division of family property should include both the commuted value of Ms Prime's pension and excess contributions to which she was entitled . . .
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OSFI Consultation re Climate-Related Risks
The Office of the Superintendent of Financial Institutions has published a discussion paper: Navigating Uncertainty in Climate Change: Promoting Preparedness and Resilience to Climate-Related Risks . . .
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Federal Announcement re Quarantine Benefits
The federal government announced that it will be introducing legislation to restrict access to the Canada Recovery Benefit (CRB), the Canada Recovery Caregiving Benefit (CRCB) and the Canada Recovery Sickness Benefit (CRSB . . .
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The Trustees of the BC Transit Employees’ Health and Benefit Trust v. Enkelmann, 2021 BCSC 11 – Trustees Entitled to Suspend Disability Payments per Reimbursement Agreement
Enkelmann was an employee of the Coast Mountain Bus Company. As an employee, he was a member of the Transit Employees’ Health and Benefit Plan (the Plan), which is established and administered by the trustees of the Transit Employees’ Health and Benefit Trust. In 2004, Enkelmann was injured and unable to work. He applied for disability benefits from the Plan . . .
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B.C. Guidance re Plan Termination
The British Columbia Financial Services Authority published Regulatory Statement PENS 20-006: Plan Termination Requirements and Checklist . . .
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Canada (Attorney General) v. Jost, 2020 FCA 212 – Court Overturns Certification of Class Action re Delayed Pension
In the spring of 2015, Jost was considering retirement from the Canadian Armed Forces (CAF), and was advised that he could expect to receive a lump sum pension benefit within 8 to 12 weeks. At the time, the transfer value was estimated to be $859,980.00 . . .
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B.C. Regulation re Target Benefit Plan Funding
British Columbia amended the Pension Benefits Standards Regulation to provide short-term funding relief for target benefit plans . . .
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