Surplus rights and deficit obligations are probably the biggest issues challenging the private pension regime, according to Aon’s submission to the Ontario Expert Commission on…
Under pension standards legislation, there is generally the requirement that funds in a registered pension plan may only be paid out in the form of…
State Street may face legal action by the state attorneys general of Idaho and Alaska over steep losses suffered during the credit crisis in August,…
The president of the Canadian Labour Congress wants the federal government to appoint an independent expert monitor to represent the public interest in ongoing discussions…
State Street is being sued on behalf of certain defined benefits and defined contribution clients of a Prudential Financial subsidiary. The suit seeks restitution of…
When companies are involved in a merger or acquisition, there are many issues to consider whether the pension plans should be merged as well. Elizabeth…
A pension plan’s registered tax status can be revoked if the plan fails to satisfy the “primary purpose” test under the tax rules–which is certainly…
GENERAL Pension Income Splitting The governments of Manitoba, Alberta and Saskatchewan announced in their respective provincial budgets that they will support the new federal…
UPS and the International Brotherhood of Teamsters have signed a five-year tentative agreement that will establish a pension fund administered by the company and the…
Two tax rules result in inequity and reduced benefit security for members of defined benefit pension plans. How can they be fixed? A complex patchwork,…
Ontario PC leader John Tory says, if elected, he will give Ontario’s retirees access to their locked-in pension income beginning at age 55. Under his…
A committee chaired by Imasco’s former chairman and CEO, lawyer Purdy Crawford, has been formed to oversee the proposed structuring process of the third-party asset-backed…
Countrywide Financial employees participating in its 401(k)plan have filed a class-action lawsuit against the company, its CEO and those responsible for overseeing the employees’ retirement…
Nolan et al—representing certain members and former members of the Kerry(Canada)Inc. pension plan—have sought permission to appeal to the Supreme Court of Canada. Christine Tabbert,…
Ontario has made changes to its locking-in provisions, following the footsteps of the western provinces that have introduced different forms of “unlocking” of pension funds…
SERPs, or supplemental employee retirement plans, are non-registered plans that are generally implemented when an employee’s pension under a registered pension plan(a tax-exempt vehicle)is limited…
In the Sutherland et al. v. HBC et al. case, the Ontario Superior Court of Justice has endorsed Hudson Bay Company’s right to expand membership…
A Financial Services Commission of Ontario(FSCO)report has found there was no wrongdoing or waste of pension fund money by anyone associated with the sale of…
Canada’s Pension Benefits Standards Act(the “PBSA”)provides that: …the administrator of a plan shall not, directly or indirectly, invest the monies of the plan in the…
The Ontario Court of Appeal decision in the Kerry case contains important legal guidance for employers and plan administrators regarding the use of surplus assets.…
Some of the country’s largest pension funds want the federal government to eliminate a rule that can make investment strategies more complex and sometime put…
On June 5th, 2007, the Ontario Court of Appeal overturned a lower court decision in respect of the payment of pension plan administration expenses from…
Fourteen organizations from across Canada announced have formed the Common Front for Retirement Security(CFRS)to advocate for better governance of pensions, investments and retirement savings. The…
It’s not just anecdotal, hard research shows prudent plan sponsors are addressing climate change when making their investment decisions. In what is really an astonishingly…
Institutional investors must act as prudent investors. But that doesn’t exclude them from addressing environmental and social issues. Over the last decades, there have been…