Knowledge & Insights
On June 29, 2017, the government of Ontario announced a target benefit framework for collectively bargained Ontario multi-employer pension plans (MEPPs).
On April 27, 2017, Ontario released its 2017 Budget. The Budget includes a number of important announcements of future changes to Ontario pension legislation and regulation.
On October 19, 2016, the federal government introduced Bill C-27, which will permit the establishment of target benefit plans (TBPs) by federally regulated employers, for both single and multi-employer pension plans.
In August 2016, the Financial Institutions Commission of British Columbia (FICOM) released Bulletin 16-006 titled “Clarification of Union Consent Requirement for Target Benefit Plan Conversions” (the “Bulletin”).
On March 15, 2016, the Financial Institutions Commission of British Columbia (FICOM) released Bulletin 16-001: Guideline for Converting Plans from Defined Benefit to Target Benefit (the “Bulletin”).
On July 24, 2015, the Ontario government released its consultation paper titled Regulatory Reform for Target Benefit Multi-Employer Pension Plans (“consultation paper”).
On April 21, 2015, the Federal Government released its 2015 Economic Action Plan (the “Budget”). The Budget includes a number of announcements relating to retirement and benefit plans.
On April 23, 2015, the Ontario Government introduced its 2015 budget (the “Budget”).
The City of Regina and the Civic Pension and Benefits Committee, representing the employers and employees of the Civic Pension Plan, have reached a negotiated agreement to address concerns regarding the long term sustainability of the Plan.
On January 20, 2015, the Ontario government released a proposed framework to facilitate the merger or conversion of Single Employer Pension Plans (“SEPPs”) to Jointly Sponsored Pension Plans (“JSPPs”) in the broad public sector.