Latest news in Governance/legislation

A Tale of Two Tax Rules

Two tax rules result in inequity and reduced benefit security for members of defined benefit pension plans. How can they be fixed? A complex patchwork,…

Tory Promises Access to Locked-In Pension Income

Ontario PC leader John Tory says, if elected, he will give Ontario’s retirees access to their locked-in pension income beginning at age 55. Under his…

Crawford to Head ABCP Committee

A committee chaired by Imasco’s former chairman and CEO, lawyer Purdy Crawford, has been formed to oversee the proposed structuring process of the third-party asset-backed…

Countrywide Faces Suit Over Pension Plan

Countrywide Financial employees participating in its 401(k)plan have filed a class-action lawsuit against the company, its CEO and those responsible for overseeing the employees’ retirement…

Kerry Pensioners Seek Leave to Appeal

Nolan et al—representing certain members and former members of the Kerry(Canada)Inc. pension plan—have sought permission to appeal to the Supreme Court of Canada. Christine Tabbert,…

Ontario Changes Pension Locking-in Provisions

Ontario has made changes to its locking-in provisions, following the footsteps of the western provinces that have introduced different forms of “unlocking” of pension funds…

What’s happening with SERPs?

SERPs, or supplemental employee retirement plans, are non-registered plans that are generally implemented when an employee’s pension under a registered pension plan(a tax-exempt vehicle)is limited…

  • By: Jana Steele
  • August 16, 2007 September 13, 2019
  • 00:00

Court Endorses Right to Expand Plan Membership

In the Sutherland et al. v. HBC et al. case, the Ontario Superior Court of Justice has endorsed Hudson Bay Company’s right to expand membership…

FSCO Report Clears OMERS

A Financial Services Commission of Ontario(FSCO)report has found there was no wrongdoing or waste of pension fund money by anyone associated with the sale of…

Why the 30% Limit is a Dinosaur

Canada’s Pension Benefits Standards Act(the “PBSA”)provides that: …the administrator of a plan shall not, directly or indirectly, invest the monies of the plan in the…

The Law: Kerry On

The Ontario Court of Appeal decision in the Kerry case contains important legal guidance for employers and plan administrators regarding the use of surplus assets.…

  • By: Paul Litner
  • August 1, 2007 September 13, 2019
  • 00:00

Funds want end to 30% rule: report

Some of the country’s largest pension funds want the federal government to eliminate a rule that can make investment strategies more complex and sometime put…

Ontario Court of Appeal determines key pension issues in Kerry Case

On June 5th, 2007, the Ontario Court of Appeal overturned a lower court decision in respect of the payment of pension plan administration expenses from…

  • By: Jana Steele
  • July 13, 2007 September 13, 2019
  • 00:00

CFRS Fights for Pension Governance

Fourteen organizations from across Canada announced have formed the Common Front for Retirement Security(CFRS)to advocate for better governance of pensions, investments and retirement savings. The…

Knowing Green

It’s not just anecdotal, hard research shows prudent plan sponsors are addressing climate change when making their investment decisions. In what is really an astonishingly…

The Law: The Ethical Challenge

Institutional investors must act as prudent investors. But that doesn’t exclude them from addressing environmental and social issues. Over the last decades, there have been…

Ontario Court of Appeal decision provides clarity

The Ontario Court of Appeal’s decision to overturn the Divisional Court’s decision in Nolan v. Superintendent of Financial Services(otherwise known as Kerry)earlier this week resolves…

Employer’s appeal in Kerry case allowed

The Ontario Court of Appeal overturned the Divisional Court’s decision in Nolan v. Superintendent of Financial Services(otherwise known as Kerry)yesterday, says a brief from Osler,…

Stanford governance experts seek investment fund reform

A committee of the Stanford Institutional Investors’ Forum at Stanford Law School, in cooperation with the Arthur and Toni Rembe Rock Center for Corporate Governance,…

Governance and the Board

Understanding where people’s responsibilities lie at the highest levels will aid in creating an environment that adheres to a solid governance structure. Reports of underfunded…

The Law: Thirty Steps Forward

Despite 30 years of evolution and growth, there is still room for legislators to let plan sponsors and members work out their differences. The pension…

Eyes to the South

Canadian plan sponsors would be remiss if they didn’t keep an eye to the U.S. and the developments surrounding pension legislation. Given the scarcity of…

Alberta wants $1.25B pension suit struck down

Alberta government lawyers have asked a judge to strike down a lawsuit from the Alberta Society for Pension Reform, which seeks $1.25 billion in damages.…

The Law: Shelter from the storm

Remember the pension world’s “perfect storm”? At the time, the storm was seen as being both unpredictable and ending quickly. From a legal point of…

Parliamentary committee responds to trust tax

Finance Minister Jim Flaherty’s income trust tax announcement on Oct. 31, 2006, was certainly no treat for Canadian citizens and businesses. Earlier last year, Harper…