February 17, 2017 by Mary Picard in English, Ontario, Pensions and Benefits
  • Comments Off on Who is a “parent” in the Ontario pension world? And why does it matter?

Who is a “parent” in the Ontario pension world? And why does it matter?

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 recently

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November 28, 2016 by Mary Picard in English, Ontario, Pensions and Benefits
  • Comments Off on Ontario regulatory form regarding pension plan contributions: comply!

Ontario regulatory form regarding pension plan contributions: comply!

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.

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November 14, 2016 by Mary Picard in Pensions and Benefits
  • Comments Off on Ontario Pension Advisory Committees

Ontario Pension Advisory Committees

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 burdens

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October 07, 2016 by Mary Picard in Pensions and Benefits
  • Comments Off on Canada Pension Plan enhancements: it’s happening

Canada Pension Plan enhancements: it’s happening

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 apply

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August 29, 2016 by Mary Picard in Pensions and Benefits
  • Comments Off on Ontario Pension Plan Members Will Soon Have Significant New Rights

Ontario Pension Plan Members Will Soon Have Significant New Rights

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 familiarize

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August 12, 2016 by Mary Picard in English, Ontario, Pensions and Benefits
  • Comments Off on U.S. employers targeted by lawsuits claiming excessive fees in employee retirement and savings plans: Could it happen in Canada?

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 the

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August 08, 2016 by Mary Picard in English, Ontario, Pensions and Benefits
  • Comments Off on How should employers deal with pensions in a severance package?

How should employers deal with pensions in a severance package?

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 the

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April 29, 2016 by Mary Picard in English, Ontario, Pensions and Benefits
  • Comments Off on Ontario Retirement Pension Plan: a guide

Ontario Retirement Pension Plan: a guide

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 you

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September 30, 2015 by Mary Picard in Pensions and Benefits
  • Comments Off on Employer liability relating to fees in employer-sponsored retirement and savings plans

Employer liability relating to fees in employer-sponsored retirement and savings plans

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...

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July 10, 2015 by Mary Picard in Pensions and Benefits
  • Comments Off on Ontario pension plan sponsors: it’s time to look at your SIPPs

Ontario pension plan sponsors: it’s time to look at your SIPPs

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...

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