Category: Ontario
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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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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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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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Ontario Budget 2021
The Ontario government released its budget for 2021, and it included an announcement regarding the Pension Benefits Guarantee Fund (PBGF . . .
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Ontario Public Service Employees Union v. Ontario (Government & Consumer Services), 2021 CanLII 19542 – Requiring Disabled Employees to Retire or Pay Pension Contributions Violates Code & Charter
During the last round of collective bargaining, a provision was added to the collective agreement between OPSEU and the Ontario government that would require OPSEU Pension Plan (Plan) members in receipt of or eligible for Long Term Income Protection (LTIP) to take certain actions with respect to their Plan entitlements . . .
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Ontario FSRA Announcement re Missing Plan Members
The Financial Services Regulatory Authority announced that effective September 1, 2021, it will require plans to provide missing members data when filing their Annual Information Summary . . .
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Ontario FSRA Consultation re Marriage Breakdown Guidance
The Financial Services Regulatory Authority published Proposed Guidance on Administration of Pension Benefits upon Marriage Breakdown for consultation . . .
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Ontario FSRA Guidance re DB MEPPs
The Financial Services Regulatory Authority published Defined Benefit Multi-Employer Pension Plans - Leading Practices. FSRA conducted a review of DB MEPPs, and the publication provides an overview of the "leading practices" that the regulator observed . . .
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Ontario Power Generation v. Society of United Professionals, 2021 CanLII 16002 – Former Employee Not Entitled to Extended Work Term & Potential Buyback Opportunity
Underwood worked for Ontario Power Generation (OPG) (or its predecessor) from 1978 to 2002. Upon his departure from OPG, Underwood elected to transfer the commuted value of his pension out of the OPG pension plan . . .
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