Any person who is the “spouse” of a member of a registered pension plan in Canada has rights regarding the pension entitlement of his or her partner. That important policy has been entrenched in pension legislation for decades. Exactly who is a “spouse”? The answer to that question has recentlyRead More →
Trustees and administrators of Ontario registered pension plans: beware of Form 7.
That’s the form that administrators of registered pension plans must complete, and send to their pension fund trustees, that summarizes the estimated employer and employee contributions that will be due to be made to the pension plans in future.Read More →
If you are involved with the administration of an Ontario registered pension plan, you should familiarize yourself with new Ontario rules regarding pension advisory committees. The new rules will be effective January 1, 2017. They give significant additional rights to plan members, and could impose extra costs and administrative burdensRead More →
Yesterday the federal government tabled Bill C-26, which will implement changes to the Canada Pension Plan that were announced in June, 2016. All provinces other than Quebec are now on board, in support of increased employer and employee contributions, and higher benefits. The higher contribution rates will not applyRead More →
Ontario is on the verge of implementing new rights for members of registered pension plans. Members will have the right to form committees that will have broad rights to review information about all aspects of plan administration including investments. Employers who sponsor or administer a registered pension plan should familiarizeRead More →
U.S. employers targeted by lawsuits claiming excessive fees in employee retirement and savings plans: Could it happen in Canada?
I recently wrote about the legal risks regarding plan fees that should be considered by Canadian employers who sponsor group registered retirement savings plans and defined contribution pension plans (that article can be found here). These risks have been emphasized by several lawsuits filed against U.S. employers in theRead More →
HR professionals often ask us how to deal with pension issues when they structure severance packages for non-union employees. Should employees continue to earn pension benefits after termination of employment? If so, for how long?
Here are some legal principles that will help the puzzled professional approach these questions. See theRead More →
Media coverage about the Ontario Retirement Pension Plan (ORPP) has been unrelenting for the past two years. The Ontario government has made many announcements setting out its vision for its new, government-run defined benefit pension plan for Ontario employees which will be similar to the Canada Pension Plan (CPP).
Are youRead More →
Employers who sponsor retirement and savings plans for their employees should ensure that the fees paid by their employees within the plans are reasonable and adequately disclosed. Lawsuits in the U.S., and a recent regulatory undercover investigatio...Read More →
Employers that provide registered pension plans to their Ontario employees should review their Statement of Investment Policies and Procedures (“SIPPs”) within the next few months. New Ontario SIPP requirements are coming into force: SIPPs will...Read More →