Category: Public Sector Plans
-
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 . . .
This content is only available to subscribers. Please login or go to www.optimizelegal.com to learn more about this product. -
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 . . .
This content is only available to subscribers. Please login or go to www.optimizelegal.com to learn more about this product. -
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 . . .
This content is only available to subscribers. Please login or go to www.optimizelegal.com to learn more about this product. -
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 . . .
This content is only available to subscribers. Please login or go to www.optimizelegal.com to learn more about this product. -
Ontario 2020 Budget
The Ontario government released its budget for 2020, and it included pension and benefit related announcements . . .
This content is only available to subscribers. Please login or go to www.optimizelegal.com to learn more about this product. -
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 . . .
This content is only available to subscribers. Please login or go to www.optimizelegal.com to learn more about this product. -
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 . . .
This content is only available to subscribers. Please login or go to www.optimizelegal.com to learn more about this product. -
Ontario Regulation re Letters of Credit
Ontario filed Regulation 231/20 amending the general regulation under the Pension Benefits Act. The amendment adds two more pension plans to the list of public sector plans to which the PBA letter of credit provisions apply . . .
This content is only available to subscribers. Please login or go to www.optimizelegal.com to learn more about this product. -
Ontario Regulation re University Plan Exemptions
Ontario filed Regulation 32/20, adding an exemption for the listed university pension plans . . .
This content is only available to subscribers. Please login or go to www.optimizelegal.com to learn more about this product. -
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 . . .
This content is only available to subscribers. Please login or go to www.optimizelegal.com to learn more about this product.