Category: New Brunswick
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New Brunswick Draft Regulation re Solvency Funding
New Brunswick published draft regulations, which will amend the General Regulation to provide plan sponsors with greater flexibility in funding solvency deficits. Comments are due by July 13, 2020 . . .
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CAPSA Announcement re Multi-Jurisdictional Agreement
Further to several jurisdictions publishing regulations/orders approving the 2020 agreement regarding multi-jurisdictional pension plans (the 2020 Agreement), CAPSA has released its communications regarding the adoption of the 2020 Agreement . . .
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Status Update: New Leaves of Absence
Most jurisdictions across Canada have added or updated an emergency or public health leave of absence. Below is a quick recap of changes to date . . .
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New Brunswick Update re COVID-19 – Extends Filing Deadline
The New Brunswick Financial and Consumer Services Commission (FCNB) published an update regarding COVID-19, which includes guidance on Annual Information Returns (AIRs) and Actuarial Valuation Reports . . .
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New Brunswick Passes Bill 22 re Unclaimed Property
New Brunswick Bill 22, Unclaimed Property Act, received Royal Assent on March 17, 2020. Bill 22 establishes a new Act setting out a regime governing unclaimed property . . .
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New Brunswick Introduces Bill 22 re Unclaimed Property Act
New Brunswick introduced Bill 22, Unclaimed Property Act, for first reading on November 27, 2019. Bill 22 establishes a new Act setting out a regime governing unclaimed property . . .
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Driscoll v. Driscoll, 2019 NBQB 167 – Double Dipping Permitted Based on Spouse’s Circumstances
The Driscolls divorced after 29 years of marriage. During the marriage, Mr. Driscoll was the primary earner. Ms Driscoll stopped working to care for their son who was diagnosed with autism and required continuous supervision . . .
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Fredericton Police Association v. New Brunswick (Superintendent of Pensions), 2019 NBFCST 4, 5, 6 – Jurisdiction of the Tribunal & Other Procedural Issues
The New Brunswick Financial and Consumer Services Tribunal Decision rendered three procedural decisions related to the ongoing pension dispute between the Fredericton Police and Fire Fighters’ Associations and the City of Fredericton . . .
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Goyetche et al. v. International Union of Operating Engineers et al., 2019 NBCA 16 – No Evidence Union Acted in Bad Faith in Pension Negotiations As Grievance Would Have Failed
In August 2005, Smurfit-Stone permanently closed its mill in New Brunswick and terminated the employment of all mill employees. The employees who were under age 55 a the time of the closure were not eligible for a "regular pension". After the settlement of all of the employee obligations related to the mill closure, one of the Under 55 employees learned of a case - Bowater - where employees in a similar situation were able to use their recall rights to bridge to a full pension . . .
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New Brunswick FCNB Bulletins re PEI Plans & Marriage Breakdown
The New Brunswick Financial and Consumer Services Commission (FCNB) published two Pension Bulletins: Pension Bulletin 2018-04 - Marriage Breakdown and Pension Bulletin 2018-05 - The New Brunswick Pension Benefits Act and Prince Edward Island.
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