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The Federal Court of Appeal has decertified a $100-million class action brought by former members of the Canadian Armed Forces reserves whose retirement benefits were delayed. The court ruled that the original order failed to identify the “common issues” that are required for certification. As well, the court concluded that the representative plaintiff, Douglas Jost, […]

  • December 17, 2020 April 23, 2021
  • 09:00

Last week’s Supreme Court of Canada ruling that the Royal Canadian Mounted Police pension plan discriminated against job-sharing women should be a wake-up call to pension administrators that changes in plan design to accommodate equality rights are long overdue. “The negative pension consequences of job-sharing perpetuate a long-standing source of disadvantage to women: gender biases […]

  • October 22, 2020 May 16, 2021
  • 08:45

With environmental, social and governance considerations hovering on the agendas of legislators, shareholders and consumers, it’s easy to overlook the fact that responsible investment can be fraught with legal risks for pension plan sponsors. However, plan sponsors can mitigate much of that risk with a proper understanding of the distinction between ESG factor integration and […]

  • May 15, 2020 March 3, 2021
  • 08:53

The majority (79 per cent) of pension fund and private equity professionals expect their passive private equity allocations to either stay the same or increase in 2020, according to a new survey by Torys LLP. Pension funds, in particular, cited competition for new investment opportunities (65 per cent) and pressure from limited partners to provide co-investment […]

  • March 10, 2020 November 12, 2020
  • 16:00

The British Columbia Supreme Court has ruled that a clause in an employment agreement mandating arbitration as a way of resolving wrongful dismissal disputes doesn’t illegally contract out of provincial employment standards legislation. The ruling departs from Ontario jurisprudence that’s currently under appeal to the Supreme Court of Canada. “The B.C. judge was clearly looking […]

  • March 3, 2020 November 11, 2020
  • 09:00

The issue of whether long-term disability claims are arbitrable or matters for the court, which has plagued Ontario’s hospital sector for over a quarter of a century, is on its way to the Supreme Court of Canada. “The current state of the law, which denies employees seeking long-term disability benefits under insurance policies issued pursuant […]

  • February 26, 2020 November 24, 2020
  • 09:00

The Ontario Court of Appeal has ruled that Bell and its related companies, including Bell Canada, Bell Media Inc., Expertech Network Installation Inc. and Bell Mobility Inc., have been miscalculating the cost-of-living adjustment due to their 35,000 pensioners since 2017. The judgment could cost the telecommunications company up to $100 million and signal the beginning of […]

  • February 24, 2020 November 30, 2020
  • 09:20

The first major reform to the U.S. retirement system in a decade, the Setting Every Community Up for Retirement Enhancement Act, contains provisions that could be useful guides for Canadian legislators and regulators. Signed into law by President Donald Trump in December, the act, known as SECURE, is primarily aimed at addressing Americans’ difficulty in […]

  • February 13, 2020 November 30, 2020
  • 08:30

The Ontario Court of Appeal has ruled that a wrongfully dismissed employee could take advantage of the stock options and restricted share units that vested during the reasonable notice period, despite language in the governing plans that cancelled unvested units on termination. The case, between IMAX Corp. and a former executive named Larry O’Reilly, represented at least […]

  • January 21, 2020 November 30, 2020
  • 09:15

The British Columbia Supreme Court has found that an individual who was the “directing mind of a company,” but not a trustee of its pension plan, was personally liable for a contribution shortfall because he “knowingly assisted” the company in breaches of its fiduciary duties. “The case is a heads-up, especially for small employers, to […]

  • January 16, 2020 November 30, 2020
  • 09:15