Canada: The Marine Atlantic Decision - Whether The Federal Pension Benefits Standards Act Requires Distribution Of Surplus On Partial Plan Termination

Copyright 2009, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Pension & Employee Benefits, March 2009

On March 5, 2009, the Supreme Court of Canada denied the application for leave to appeal filed by the former employees of Marine Atlantic Inc. Accordingly, the Federal Court of Appeal decision in Cousins et al. v. Attorney General of Canada and Marine Atlantic Inc., which accepted the employer's arguments that the federal Pension Benefits Standards Act reflects a different legislative scheme from that in Ontario and that no surplus distribution on partial termination of a federally regulated plan is required, is final.

For a complete discussion of the Federal Court of Appeal decision, click here.

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