Category: Pensions, Benefits & Executive Compensation

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Legal Trends 2016: Pensions & Employee Benefits

March 28, 2016

ONE | PUBLIC PENSION REFORM The newly elected federal Liberal government is committed to exploring enhancements to the Canada Pension Plan (CPP). At the same time, the Government of Ontario is progressing with the implementation of the Ontario Retirement Pension Plan (ORPP). In this political climate, debates surrounding pension coverage and retirement income security will increasingly focus on mandatory schemes….

2016 Federal Budget – Selected Tax Measures

March 23, 2016

On March 22, 2016, the Minister of Finance tabled Canada’s 2016 Federal Budget (the 2016 Budget). This was the first budget presented by the newly-elected Liberal government, which won a strong majority in the fall 2015 federal election after nearly a decade with the Conservative party in power. The Liberals were elected on a platform that included promises to provide tax…

Federal Budget 2016 – Pension Issues

March 23, 2016

In its 2016 budget (Budget), the federal government announced a number of pensions matters, which are discussed below. PENSION BENEFITS STANDARDS ACT (PBSA) – 30-PER-CENT RULE AND BILATERAL AGREEMENTS The Budget announces that the federal government will shortly be launching a public consultation on the usefulness of the 30-per-cent investment restriction, which restricts pension plans from holding more than 30 per…

Alert: Proposed Ontario Amendment Eliminating the 30-per-cent Rule for Pension Fund Investments

March 16, 2016

The Ontario government has announced a consultation until April 29, 2016, relating to a proposed regulation change under the Pension Benefits Act (Ontario) that would permit a pension plan administrator to invest pension plan assets in more than 30 per cent of a corporation’s voting shares. The announcement suggests that a threshold may be established where corporate disclosure or undertakings…

2016 Ontario Budget Provisions Affecting Registered Pension Plans and the ORPP

February 26, 2016

On February 25, 2016, the Ontario government tabled its 2016 budget (Budget), which included a number of provisions affecting registered pension plans and the Ontario Retirement Pension Plan (ORPP). On that same day, the government introduced Bill 173, Jobs for Today and Tomorrow Act (Budget Measures), 2016, which implements certain provisions of the Budget (Bill 173). Modernizing the regulation and…

Alert: ORPP Phase-In of Contributions Delayed Until January 2018

February 16, 2016

On February 16, 2016, the Ontario and federal governments announced an agreement regarding the Ontario Retirement Pension Plan (ORPP) (Announcement). The Ontario government is proposing to delay phase-in of the ORPP by starting the first phase of contributions in January 2018.  The Announcement also provides that the Ontario and federal governments will be working to explore potential Canada Pension Plan…

Ontario Government Releases Additional ORPP Design Details

January 27, 2016

On January 26, 2016, the Ontario government released additional design details about the Ontario Retirement Pension Plan (ORPP) as well as a technical bulletin, which provide additional information about the ORPP that will be relevant to employers with workers employed in Ontario, including: Comparability Test: Employers and employees who participate in a comparable workplace pension plan (Comparable Plan) will not…

Look Ahead: 2016 Legal Trends

January 8, 2016

  While global markets can be unpredictable, we have assembled some key legal trends that may help you prepare for what lies ahead in 2016.  ​​​​   Anti-Spam   Capital Markets  ​ China    Commercial Real Estate Cybersecurity Employment & Labour Financial Services Regulatory Intellectual Property International Trade   Litigation & Dispute Resolution   Mergers & Acquisitions   Oil &…

Pensions Newsletter – December 2015

December 15, 2015

​​Welcome to the 12th issue of the Blakes Pensions Newsletter. This newsletter provides a summary of recent jurisprudential developments that affect pensions and benefits and is not intended to be legal advice.  For additional information or to discuss how any aspect of these developments may affect you, please contact a member of the Blakes Pensions, Benefits & Executive Compensation group….

CRA Positions on Deferred Share Unit Plans and Private Health Services Plans

December 7, 2015

In November of this year at the Canadian Tax Foundation’s 67th Annual Tax Conference (Conference), the Canada Revenue Agency (CRA) announced its current positions on Deferred Share Unit (DSU) conversions; payment events for DSU plans that cover U.S. taxpayers; and the requirement that Private Health Services Plans (PHSPs) provide benefits that qualify for the medical expense tax credit. DSU CONVERSIONS The…

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