The Ontario Court of Appeal’s recent decision in Sutherland v. Hudson’s Bay Company has confirmed that the principles regarding entitlement to surplus on plan termination established by the Supreme Court of Canada back in 1994 still apply.
Continue Reading...In response to recent pension legislation reform, the Manitoba Office of the Superintendent – Pension Commission has issued a policy providing guidance to Manitoba plan administrators wishing to convert a defined benefit (DB) plan to a defined contribution (DC) plan.
Continue Reading...Over the last couple of years, Canadian federal and provincial governments have expressed concern over declining pension coverage. They have responded by appointing expert commissions to study the matter, and by proposing possible solutions such as pooled registered pension plans and modest enhancements to the Canada Pension Plan.
These concerns regarding declining pension coverage appear to be supported most recently by statistics released by the Office the Superintendent of Financial Institutions (OSFI) although, perhaps surprisingly, the decline does not seem to be as precipitous as one might have expected.
Continue Reading...As a result of today’s difficult economic times, many employers are evaluating their retirement programs and considering how they can reduce benefits. The decision of the New Brunswick Court of Queen’s Bench in Quinn v. New Brunswick (Minister of Finance) contains guidance on the common law analysis to be applied when considering a potential option to eliminate indexing.
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