Category: British Columbia
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B.C. Information Security Guidelines
The British Columbia Financial Services Authority published its new Information Security Guideline, which applies to pension plan administrators . . .
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Denluck v. The Board of Trustees for the Boilermakers’ Lodge 359 Pension Plan, 2021 BCSC 242 – Settlement of Class Action Approved
When Denluck transferred his pension out of the Boilermakers’ Lodge 359 Pension Plan (the Plan), he was advised that since the Plan was underfunded, about a quarter of the commuted value of his pension would be held back (the Transfer Deficiency . . .
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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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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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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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B.C. Publishes Regulatory Road Map
The British Columbia Financial Services Authority published a regulatory road map, which outlines planned regulatory guidance that will be issued in 2020/21 . . .
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Denluck v. The Board of Trustees for the Boilermakers’ Lodge 359 Pension Plan, 2020 BCSC 1460 – Class Action re Cancelled Commuted Value Transfers
When Denluck transferred his pension out of the Boilermakers’ Lodge 359 Pension Plan (the Plan), he was advised that since the Plan was underfunded, about a quarter of the commuted value of his pension would be held back (the Transfer Deficiency . . .
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Status Update: Temporary Layoffs
Typically, under employment standards legislation, a temporary layoff longer than a specified period is considered a permanent layoff (i.e., requiring an employer to provide employees with written working notice of termination and/or to pay termination and severance pay). This post provides a quick review of the jurisdictions that have extended or created exemptions from the temporary layoff periods in response to COVID-19 . . .
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Trustees of the IWA-Forest Industry Pension Plan v. Log Smart Contracting Ltd., 2020 BCCRT 730 – Owner/Director Personally Liable for Outstanding Plan Contributions
The IWA – Forestry Industry Pension Plan (the Pension Plan) and the IWA – Forestry Industry LTD Plan (the LTD Plan) are multi-employer, trusteed plans (the Plans). Per participation agreements, Log Smart was a participating employer in both the Pension Plan and the LTD Plan, and was required to make monthly employer and employee contributions to the Plans . . .
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