Category: British Columbia
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British Columbia COVID-19 Relief Measures
The British Columbia Financial Services Authority published Pension Bulletin 20-002, COVID-19: Relief Measures for Pension Plans in British Columbia . . .
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New Agreement re Multi-Jurisdictional Pension Plans
British Columbia has filed an Order in Council (OIC) approving the 2020 Agreement respecting Multi-Jurisdictional Pension Plans (the 2020 Agreement), attached as a Schedule to the OIC. Per s. 27 of the 2020 Agreement, it replaces the 2016 Agreement as of July 1, 2020 in respect of the governments of B.C., Nova Scotia, Ontario, Quebec and Saskatchewan . . .
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The UA Full-Time Salaried Officers v. UA of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry, Local 170, 2020 BCSC 422 – Requirement to Participate in Pension Plan Requires Full Trial
The Board of Trustees of the United Association Full-time Salaried Officers and Employees of Local Unions, District Councils, State and Provincial Associations Pension Plan (the Board of Trustees) administers a defined pension plan (the UA Plan) established by the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry of the United States and Canada (UA International) for employees of its local (affiliated) unions . . .
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B.C. Qs & As re New DB Funding Requirements
The British Columbia Financial Services Authority has published Bulletin 20-001, which provides a series of frequently asked questions regarding the new defined benefit funding requirements, which came into force on as of December 31, 2019 . . .
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New Leaves of Absence in Response to COVID-19
A number of provinces have added new leaves of absence (or amended existing ones) in response to COVID-19 . . .
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Kraft v. Kraft, 2020 BCSC 283 – Survivor Benefit Split 50/50 Between Current & Former Spouses
The Krafts were married for 27 years when their marriage ended in 1997. Shortly after their separation, Mr. Kraft began living with Ms. Kempenaar. In 2015, Mr. Kraft retired . . .
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Status Update: Coming Into Force January 1, 2020
This post provides a quick recap of what is (and what is not) coming into force on January 1, 2020 . . .
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B.C. Updates Pension Plan Fees
Effective January 15, 2020, a new fee schedule will be in place for pension plans . . .
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B.C. Amends Regulation re DB Funding
British Columbia filed an Order in Council (B.C. Reg. 264/2019) amending the Pension Benefits Standards Regulation with respect to defined benefit plan funding and target benefit plans . . .
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Canada (Attorney General) v. British Columbia Investment Management Corp., 2019 SCC 63 – Appeal re Taxation of Public Sector Plan Dismissed
Under the Constitution Act, 1867, provincial governments and their agents are immune from federal taxation when acting within their legislated mandates. The British Columbia Investment Management Corporation (bcIMC), which was established under the B.C. Public Sector Pension Plans Act (PSPPA) as a Crown trust corporation to provide certain trust business and investment management services to various B.C. public sector pension plans, enjoyed that constitutional immunity . . .
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