Category: Pensions, Benefits & Executive Compensation

Alert: FSRA Announces “One-Time Opportunity” for Outstanding Pension Plan Filings

September 26, 2019

The Financial Services Regulatory Authority of Ontario (FSRA) has announced a “one-time opportunity” to avoid incurring summary administrative penalties for late filing requirements under the Pension Benefits Act (Ontario) (PBA). FSRA indicated that it would be contacting plans with identified outstanding filings. If the specified outstanding filings due before September 30, 2019 are filed by October 31, 2019, summary administrative…

Reminder for Federally Regulated Employers: Sweeping Changes to Canada Labour Code Coming September 1, 2019

August 26, 2019

Part III of the Canada Labour Code (Code) and its accompanying regulations, which provide labour standards for federally regulated employers, are scheduled to undergo significant changes pursuant to the coming into force of certain provisions of Bill C-86, the Budget Implementation Act, 2018, No. 2 (Bill C-86), and Bill C-63, the Budget Implementation Act, 2017, No. 2 (Bill C-63). The…

Proposed Changes to Stock Option Tax Rules

June 19, 2019

On June 17, 2019, Canada’s finance minister tabled a Notice of Ways and Means Motion regarding the taxation of employee stock options. This follows from the government’s announcement in the 2019 Budget that it intended to limit the availability of the 50 per cent deduction on employee stock option benefits (i.e., the deduction that effectively provides capital gains treatment on…

Reminder: Plan-Related Document Changes Arising from New Funding Rules for Ontario DB Pension Plans

June 3, 2019

This bulletin provides a reminder with respect to the new funding rules for Ontario defined benefit (DB) pension plans that came into effect on May 1, 2018. These new rules under the Ontario Pension Benefits Act (PBA) necessitate changes to certain plan-related documents, including the pension plan text, annual and biennial member statements, and the Statement of Investment Policies and…

Recent Developments in Pensions and Employee Benefits Law

April 30, 2019

We invite you to join us for our semi-annual program exploring recent updates and legal developments in pensions and employee benefits law. During this program, we will be joined by guest speaker Caroline Blouin, Executive Vice President, Pensions, Financial Services Regulatory Authority of Ontario (FSRA). Other Topics: Case Law and Regulatory Round-Up Jeff Sommers and Adam Ngan CAPSA Guidelines: DB Funding, DC Plans…

Pensions Newsletter – April 2019

April 29, 2019

Welcome to the 24th 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….

Alert: 2019 Ontario Budget – Electronic Communications and Beneficiary Designations

April 12, 2019

On April 11, 2019, the Ontario government tabled the 2019 Ontario Budget (2019 Budget). The 2019 Budget announced that the government is considering future changes to the Pension Benefits Act to permit pension plans to communicate with plan members electronically as the default method. The 2019 Budget also amends the Insurance Act to clarify the ability of insurers to accept…

Your Guide to the 2019 Federal Budget

March 22, 2019

On March 19, 2019, the Government of Canada released its 2019 budget (2019 Budget) before the federal election later this year. We’ve summarized the key aspects from the 2019 Budget that may impact your business.  For tax changes, including proposed changes to the excise taxation of cannabis extracts (including oils), cannabis edibles and cannabis topicals, please see 2019 Federal Budget – Selected Tax…

2019 Federal Budget – Selected Tax Measures

March 20, 2019

On March 19, 2019, the Minister of Finance introduced Canada’s 2019 federal budget (2019 Budget). The government had already signalled that the primary focus of the 2019 Budget would not be business concerns as those had been largely addressed in the 2018 Fall Economic Statement. Given that 2019 is an election year, that should not be surprising. Nonetheless, the 2019…

2019 Federal Budget: Key Provisions Affecting Pensions, Benefits and Executive Compensation

March 20, 2019

On March 19, 2019, the federal government tabled its 2019 budget (2019 Budget), which included a number of provisions related to pensions, benefits and executive compensation, as summarized below. Changes to Insolvency Proceedings, Corporate Law and Pensions Changes to Stock Options Unclaimed Assets Framework Permitting Additional Types of Annuities Under Registered Plans Individual Pension Plans Contributions to a Specified Multi-Employer…