Susan G. Seller is a partner in the Toronto office of Bennett Jones LLP and the head of its national pension and benefits practice.
The views expressed are those of the author and not necessarily those of Benefits Canada.
While 2017 was a relatively uneventful year in terms of legislative changes affecting pension plans, 2018 promises to be more significant, at least for many defined benefit plan sponsors in Ontario. The changes to the Ontario Pension Benefits Act scheduled to come into force during the coming year include: Funding and governance policies: Plan administrators will need to establish […]
Alongside the Ontario government’s announcement earlier this month regarding a new funding framework for defined benefit pension plans in the province, it also said it would require plan administrators to establish written governance and funding policies. This move is one of a number of proposed measures designed to protect benefit security for members of defined […]
While it may be true that there’s nothing new under the sun in the pension world, target-benefit plans may prove the exception. In the traditional landscape of defined benefit versus defined contribution plans, target-benefit plans represent a new frontier in pension design for employers. A target-benefit plan is an alternative plan design that combines features […]
When the Ontario government announced its proposed new legislation enshrining the framework for the Ontario Retirement Pension Plan (ORPP) on April 14, it also shared some significant new aspects of the ORPP, including its compliance and enforcement mechanisms. Bill 186 moves the provincial government one step further in its stated commitment to proceed with the implementation of the ORPP […]
New pension asset transfer rules governing single-employer pension plans (SEPPs) came into effect in Ontario on Jan. 1, 2014. The Ontario government recently released a consultation paper proposing that the existing rules are also applied to plan mergers involving two or more multi-employer pension plans (MEPPs). The government notes that, by merging, some smaller MEPPs may […]
Most plan administrators know by now that, effective Jan. 1, 2016, the statement of investment policies and procedures will once again become a filed document with the Ontario pension regulator.
The Ontario Retirement Pension Plan (ORPP) is an unprecedented new mandatory provincial pension plan that represents the provincial government's "made-in-Ontario" solution for expanding pension coverage for eligible employees in that province. Proposed legislation enacting the ORPP was introduced by the Ontario government last year, along with an ORPP consultation paper on key design questions, and recently passed second reading.