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Crowe Soberman LLP
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MNP LLP
The IASB recently issued Clarification of Acceptable Methods of Depreciation and Amortization.
Stikeman Elliott LLP
In a recent case, the Supreme Court of Canada, was asked to examine whether plan members had an equitable interest in the defined benefit surpluses in three federal government pension plans.
Borden Ladner Gervais LLP
On November 30, 2009, the Canadian Association of Pension Supervisory Authorities (CAPSA) released a consultation paper on "The Prudence Standard and the Roles of the Plan Sponsor and Plan Administrator in Pension Plan Funding and Investment" for comment.
Blake, Cassels & Graydon LLP
A defined benefit pension plan sponsored by the Bank of Canada was the subject of an action by retired members, who claim the Bank wrongfully paid pension plan expenses from the pension fund.
Blake, Cassels & Graydon LLP
One consequence of the ever-increasing volume of litigation in the pension area is a clear trend towards more formal documentation of plan sponsor and service provider relationships and, within that documentation, an increasing focus on limitation of liability.
Blake, Cassels & Graydon LLP
While it is true that, depending on the language of the governing plan documents, only certain pension plan expenses may be charged, a more fundamental difficulty has arisen as a result of recent court decisions. Can any expenses be charged against a pension fund?
Blake, Cassels & Graydon LLP
Canadian employers have, for decades, used substantial employment benefits packages to attract and retain employees. These benefits packages often include a variety of post-employment benefits for retirees (including life insurance, prescription drug, supplementary health and dental benefits). For employers, one attractive feature of these retiree benefits is their low up-front costs
Blake, Cassels & Graydon LLP
Generally, the LRAMQ provides that every employer shall pay to the Minister of Revenue of Québec a contribution to the Québec health services fund based on a percentage of the total wages that the employer pays or is deemed to pay to its employees who report for work at the employer’s establishment in the province of Québec. The percentage payable varies according to the amount of the total wages, from a minimum of 2.7% to a maximum of 4.26%
Blake, Cassels & Graydon LLP
In 2000, National Steel Car Limited (NSC) filed an application pursuant to section 81 of the Pension Benefits Act (Ontario) (the PBA) to transfer the assets of its pension plan for salaried employees (the Salaried Plan) to its pension plan for hourly-paid employees (the Hourly Plan). The Salaried Plan had a substantial surplus while the Hourly Plan had an unfunded liability. Following the transfer, the merged plan would still have a surplus and no solvency deficiency.
Blake, Cassels & Graydon LLP
There have been a number of recent decisions of the courts, as well as recent developments in legislation and regulatory policies, of particular significance in the pensions area.
Blake, Cassels & Graydon LLP
The Canadian Securities Administrators staff have issued Staff Notice 51 – 314 Retirement Benefits Disclosure providing guidelines for disclosure of retirement benefits. The Staff Notice indicates that a number of issuers are presently considering providing enhanced disclosure on retirement benefits payable to executives, which goes beyond that which is required under current securities law requirements.
Gowling WLG
Corporate Digest is a compilation of previously published Gowlings articles and news items that may be of interest to executives and corporate counsel.
McMillan LLP
Following a recent Ontario Superior Court decision, pension administrators contemplating modifications to their plans may be obligated to inform plan members of such possible changes before they are implemented.
Blake, Cassels & Graydon LLP
As most employers will know, administering a pension plan can be a costly undertaking. Costs arise as a result of many activities undertaken in connection with the operation of a pension plan, such as in respect of actuarial, trustee, auditor, legal and investment management services.
Recently, the treatment of pension plan and pension fund administrative costs has been the subject of controversy between plan members and plan administrators. This article will beg
Blake, Cassels & Graydon LLP
The Canadian Association of Pension Supervisory Authorities (CAPSA) has released its Proposed Regulatory Principles for a Model Pension Law, offering solutions to the burdensome and costly administration of multi-jurisdictional pension plans, and calling for an updated Memorandum of Reciprocal Agreement.
Blake, Cassels & Graydon LLP
A final version of "best practices" guidelines for Capital Accumulation Plans, new income tax, CPP and EI provisions, and a case on the members’ right to terminate a pension plan may be headed to the Supreme Court of Canada.
Blake, Cassels & Graydon LLP
As in its politics and culture, Québec is a "distinct society" when it comes to the administration of pension plans. Its Supplemental Pension Plans Act(SPPA) includes many requirements that do not exist in other jurisdictions. That said, the basic principles for administering pension plans are quite similar to those in the rest of Canada and, therefore, some recent Québec cases could have cross-country impact.
McMillan LLP
On July 29, 2004, the Supreme Court of Canada released its decision in Monsanto Canada Inc. v. Ontario (Superintendent of Financial Service). The decision creates an obligation for employers who have partially wound-up their defined benefit pension plans to distribute a proportional share of actuarial surplus in the plan as at the partial wind up date. This represents a significant shift in the timing of surplus distribution in Canada. Before the Monsanto case, no court&nbs
Blake, Cassels & Graydon LLP
This article will discuss the implications of the Monsanto decision for pension plan sponsors, trustees, custodians and others in the pension industry, and highlight some of the most pertinent issues, including: What did the Supreme Court of Canada say and who will be affected? What are the immediate issues that must be faced by the pension industry? What are the long-term implications of the Monsanto Decision? What can pension plan sponsors expect from
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