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”).