Ontario’s new rules for dividing pensions on marriage breakdowns are a welcome development, Ian Edelist, pension practice leader at Eckler Ltd., said during an Association of Canadian Pension Management webinar this week. Processing separation agreements tends to “make pension administrators cringe, but the new rules will help with that cringe factor,” Edelist said, adding that […]
Watch this video Just because there haven’t been any large lawsuits around DC plans in Canada yet doesn’t mean they aren’t possible. Paul Litner, partner, pensions and benefits, with Osler, Hoskin & Harcourt LLP, explains that there’s a trend now to emphasize the legal duties of DC plan sponsors, whereas the focus in the past […]
The Speech from the Throne, delivered by new Governor General David Johnston, on June 3, was a missed opportunity to keep earlier promises to improve the Canada Pension Plan and Quebec Pension Plan (CPP/QPP), says Ken Georgetti, president of the Canadian Labour Congress (CLC). “Doing nothing now will cost future taxpayers a lot more down […]
Recent changes to Canadian pension legislation could change the employee/employer relationship regarding DC pensions, according to a panel of pension law experts speaking at a Blakes seminar earlier this week. In Ontario, options for payment out of DC plans has thus far been limited to annuity purchases and transfers to accounts such as life income […]
As of July 1, more amendments to the Pension Benefits Standards Act, 1985 contained in Bill C-9 will come into force. These will apply to all federally regulated pension plans. Sonia Mak, partner with Borden Ladner Gervais LLP in the pensions and benefits group, reminds plan administers that they must be ready to comply with […]