News & Analysis as of

Canada Defined Benefit Plans

Blake, Cassels & Graydon LLP

Procédures d’insolvabilité : nouvelles protections pour les régimes de retraite

Le 27 avril 2023, le projet de loi C-228, Loi sur la protection des pensions (« LPP ») a reçu la sanction royale et est entré en vigueur au Canada. Comme la LPP vient modifier considérablement le traitement des exigences au...more

Blake, Cassels & Graydon LLP

New Protections for Pensions in Insolvency Proceedings

On April 27, 2023, Bill C-228, the Pension Protection Act (PPA), received royal assent and was proclaimed into force in Canada. Because the PPA fundamentally changes how pension obligations are addressed in insolvency...more

Bennett Jones LLP

Governance and Funding Policies Reintroduced for Ontario Pension Plans

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On November 14, 2022, Ontario introduced Progress on the Plan to Build Act (Budget Measures), 2022 (Bill 36) to implement certain budget measures introduced as part of Ontario's 2022 Ontario Economic Outlook and Fiscal...more

Bennett Jones LLP

CAPSA Consultation on ESG, Leverage, Cyber and Risk Management Guidelines for Pension Plans

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On June 9, 2022, the Canadian Association of Pension Supervisory Authorities (CAPSA) published consultation drafts of pension plan guidelines covering environmental, social and governance (ESG) considerations, as well as...more

Blake, Cassels & Graydon LLP

Target Benefit Pension Plans: A New Option for Quebec Employers and Employees

On December 11, 2020, Quebec’s National Assembly adopted Bill 68, with certain amendments made to its original text, thereby enacting An Act mainly to allow the establishment of target benefit pension plans (Act). The...more

Blake, Cassels & Graydon LLP

Quebec Moves Forward with New Supplemental Pension Plan

On October 7, 2020, Bill 68, An Act mainly to allow the establishment of target benefit pension plans (Bill 68), was tabled at Quebec’s National Assembly by the province’s Minister of Finance, Éric Girard. Bill 68’s main...more

Blake, Cassels & Graydon LLP

Mise à jour n° 2 : Le point sur les régimes de retraite et avantages sociaux pendant la pandémie de COVID-19

Faisant suite à notre Bulletin Blakes du 1er mai 2020 intitulé Mise à jour : Le point sur les régimes de retraite et avantages sociaux pendant la pandémie de COVID-19, nous vous présentons ci-après les points saillants des...more

Blake, Cassels & Graydon LLP

Update No. 2: Considerations for Pensions and Benefits During COVID-19

Further to our April 2020 Blakes Bulletin: Update: Considerations for Pensions and Benefits During COVID-19, the following are highlights of subsequent legislative and regulatory updates relevant to COVID-19. This bulletin...more

Blake, Cassels & Graydon LLP

Alerte : L’ARSF publie son approche relative aux limites sur les transferts de valeurs de rachat et les achats de rentes des...

Le 22 mai 2020, l’Autorité ontarienne de réglementation des services financiers (l’« ARSF ») a publié l’Approche n° PE0202APP, Limites des transferts de la valeur de rachats et des achats de rente (régimes de retraite à...more

Blake, Cassels & Graydon LLP

Alert: FSRA Releases Approach to Limitations on Defined Benefit Commuted Value Transfers and Annuity Purchases

On May 22, 2020, the Financial Services Regulatory Authority of Ontario (FSRA) released Approach No. PE0202APP: Limitations on Commuted Value Transfers and Annuity Purchases (DB Pension Plans) (Approach), which outlines...more

Blake, Cassels & Graydon LLP

Blakes Continuity Podcast: COVID-19: The Regulatory Impact on Pensions

Pension regulators across Canada are adjusting their policies in light of the COVID-19 pandemic. Blakes pension lawyers Lindsay McLeod, Adam Ngan and Sean Maxwell demystify the implications of the steps that federal and...more

Blake, Cassels & Graydon LLP

Update: Considerations for Pensions and Benefits During COVID-19

Further to our March 2020 Blakes Bulletin: Considerations for Pensions and Benefits During COVID-19, the following are highlights of subsequent legislative and regulatory updates relevant to COVID-19. This bulletin...more

Bennett Jones LLP

OSFI Provides Guidance to Administrators of Federally Regulated Pension Plans Amidst the COVID-19 Pandemic

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On March 27, 2020, the Office of the Superintendent of Financial Institutions (OSFI) announced a series of regulatory adjustments designed to help reduce some of the operational stress on federally regulated institutions,...more

Blake, Cassels & Graydon LLP

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

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)...more

Blake, Cassels & Graydon LLP

Alberta Announces Temporary Solvency Funding Relief for Defined Benefit Pension Plans

The Alberta Superintendent of Pensions (Superintendent) recently announced long-anticipated measures providing potential funding relief to sponsors of Alberta-registered defined benefit plans. In September 2017, the...more

Blake, Cassels & Graydon LLP

Ontario Pension Funding Reform and Administrator Discharge upon Annuity Purchase

On December 14, 2017, the Ontario government posted descriptions of two proposed regulations to the Ontario Pension Benefits Act (PBA) regarding the funding rules for defined benefit pension plans and the availability of an...more

Blake, Cassels & Graydon LLP

Amended SPPA Regulation Comes into Force, Filling a Gap in Quebec’s Supplemental Pension Plan Framework

On January 4, 2018, the Regulation to amend the Regulation respecting supplemental pension plans came into force, filling a regulatory void in Quebec’s supplemental pension plans framework that lasted just over two years....more

Bennett Jones LLP

New Funding Framework for DB Pension Plans Announced A Follow up from the 2017 Ontario Budget

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On May 19, 2017, the Ontario Government announced that it is implementing a new funding framework for defined benefit (DB) pension plans in Ontario. Highlights include...more

Blake, Cassels & Graydon LLP

Target Benefit Plans and Annuities for Federally Regulated Enterprises

On October 19, 2016, the federal government tabled Bill C-27, which proposes amendments to the federal Pension Benefits Standards Act, 1985 (PBSA). If passed, this bill will allow federally regulated employers to create both...more

Bennett Jones LLP

Ontario Takes Action on Pension Funding Reform

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In November of last year, as part of its 2015 Economic Outlook and Fiscal Review, the Ontario government announced its plans to review the current solvency funding rules for defined benefit (DB) pension plans. The expedited...more

Blake, Cassels & Graydon LLP

2015 Ontario Economic Outlook and Fiscal Review Provisions Affecting the Retirement Income System

The Ontario government has confirmed that it continues to move forward to implement the ORPP in 2017, while allowing for potential integration of the ORPP with a Canada Pension Plan (CPP) enhancement in the future. For more...more

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