Tag: Act s. 4
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Canada (Attorney General) v. Northern Inter-Tribal Health Authority Inc., 2020 FCA 63 – Court of Appeal Confirms Indigenous Plan Subject to Provincial Jurisdiction
The Superintendent of Financial Institutions decided that the pension plans of the Northern Inter-Tribal Health Authority Inc. and Peter Ballantyne Cree Nation Health Services Incorporated (organizations providing health care to Indigenous people) are provincially regulated . . .
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Picard v. Canada (Attorney General), 2018 FC 747 – Indigenous Pension Plan Incorrectly Deemed to be Subject to Provincial Jurisdiction
The First Nations Public Security Pension Plan (the Plan), a multi-employer pension plan covering the police departments of 14 band councils serving Indigenous communities in Quebec, was registered with the Office of the Superintendent of Financial Institutions of Canada (OSFI) in 1981. Employees of band councils across Canada were considered to be employed in a "federal undertaking", and thus governed by the Canada Labour Code (the Code). Therefore, the Plan participants fell within the definition of "included employment" per ss. 4(2)(4) of the Pension Benefits Standards Act, 1985 (PBSA).
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Reference re Section 32 of the Pension Benefits Act, 1997 2018 NLCA – Scope of Deemed Trusts and Nature of Lien & Charge
This is the latest decision related to the Wabush Iron Co. Limited, Wabush Resources Inc. and other related entities (Wabush) proceedings under the Companies’ Creditors Arrangement Act (CCAA).
The Newfoundland government referred a number of questions to the Newfoundland and Labrador Court of Appeal regarding: (i) the scope of the deemed trusts under the Newfoundland Pension Benefits Act, 1997 (NLPBA); (ii) the application of the federal Pension Benefits Standards Act (PBSA), and Quebec Supplemental Pension Plans Act (SPPA) to the proceedings; and (iii) whether the NLPBA lien and charge constituted a valid secured claim in favour of the pension plan administrator.
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Status Update: OSFI Actuarial Guide
OSFI has posted an updated the Instruction Guide for the Preparation of Actuarial Reports for Defined Benefit Pension Plans. (The Guide was last updated in October 2016 - see my earlier post.)
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OSFI Instruction Guide re Actuarial Reports
OSFI has posted an updated the Instruction Guide for the Preparation of Actuarial Reports for Defined Benefit Pension Plans. The Guide provides information on reporting/filing requirements and content of actuarial reports. It has been updated to reflect the following:
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