Category: Public Sector Plans
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Retraite Quebec Newsletter re Bill 68 Amendments
Retraite Québec published a newsletter reviewing Bill 68, An Act mainly to allow the establishment of target benefit pension plans, which came into force on December 11, 2020 . . .
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Saskatchewan Amends Pension Benefits Regulation
Saskatchewan published Regulation 25/2021, amending The Pension Benefits Regulations, 1993. The amendment makes changes in relation to the Saskatchewan Teachers’ Retirement Plan (the Plan . . .
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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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Saskatchewan Amends Pension Benefits Regulation
Saskatchewan amended The Pension Benefits Regulations, 1993 (the Regulations) to exempt the Saskatchewan Teachers’ Retirement Plan, the Target Retirement Income Plan for the Regina Police Service, the Saskatoon Fire Fighters’ Pension Plan and the Saskatoon Police Pension Plan from the holdback requirement on commuted value transfers . . .
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Ontario Passes Bills 213 & 229
Ontario Bill 213, Better for People, Smarter for Business Act, 2020 and Bill 229, Protect, Support and Recover from COVID-19 Act (Budget Measures), 2020 received Royal Assent on December 8, 2020. Both Bills include amendments to the Pension Benefits Act (PBA). Bill 229 also includes amendments to the Financial Services Commission of Ontario Act, 1997 and the Financial Services Regulatory Authority of Ontario Act, 2016 . . .
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Fredericton Police Association v. New Brunswick (Superintendent of Pensions), 2020 NBFCST 4 – Tribunal Rejects Most Superintendent Approvals & Orders Appointment of New Actuary
This is the latest decision regarding the ongoing dispute between the Fredericton Police and Fire Fighters’ Associations (the Unions) and the City of Fredericton with respect to the defined benefit pension plan for the Unions' members . . .
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Ontario Bill 229 re Budget Amendments
Ontario introduced Bill 229, Protect, Support and Recover from COVID-19 Act (Budget Measures), 2020, for first reading on November 5, 2020. Bill 229 includes amendments to the Pension Benefits Act, Financial Services Commission of Ontario Act, 1997 and Financial Services Regulatory Authority of Ontario Act, 2016 . . .
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Ontario 2020 Budget
The Ontario government released its budget for 2020, and it included pension and benefit related announcements . . .
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Fraser v. Canada (Attorney General) 2020 SCC 28 – RCMP Pension Plan Design Discriminates Against Job-Sharing Women
Fraser, Pilgrim and Fox (the Appellants) are mothers and former members of the RCMP. While employed by the RCMP, the Appellants participated in the RCMP’s job sharing program, which permitted them to work reduced hours. The Appellants’ pension benefits for their job-sharing periods were calculated in the same manner as pension benefits were calculated for RCMP members who worked part-time hours. Thus, they were entitled to reduced pensionable service and, accordingly, a lower pension benefit on retirement. Unlike RCMP members who take a leave of absence without pay, the Appellants did not have the option of buying . . .
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Ontario Regulations re Workplace Safety and Insurance Board Employees’ Pension Plan
Ontario filed a series of regulations as a part of the transition of the Workplace Safety and Insurance Board Employees’ Pension Plan (the WSIB Plan) to a jointly sponsored pension plan . . .
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