The British Columbia Supreme Court has found that an individual who was the “directing mind of a company,” but not a trustee of its pension plan, was personally liable for a contribution shortfall because he “knowingly assisted” the company in breaches of its fiduciary duties. “The case is a heads-up, especially for small employers, to […]
Ontario’s pension benefits guarantee fund has successfully reclaimed some $200 million from monies allocated to pensioners in Nortel Networks Corp. bankruptcy proceedings. The silver lining for pensioners is that the decision by the Financial Services Tribunal finally puts an end to the uncertainty they’ve experienced since their benefits were cut off in 2010. “It would have […]
Pension plan stakeholders will see a continued evolution of both short- and long-term reform, with some significant developments expected in 2020. “Hopefully, Ontario will finalize the rules for its target benefit regime — perhaps we’ll see the introduction of single employer target-benefit rules — and there should be some action on variable benefits because the […]
The Alberta Court of Appeal has upheld a $267,017 award to a pensioner for negligent misrepresentation after the Alberta Pensions Services Corp. provided mistaken estimates of the pensioner’s retirement benefits. But the lawyer for Dr. William Calder and his wife says the ruling, which also validated a change in the ASPC’s interpretation of the governing […]
The Ontario Court of Appeal is poised to hear a case that could clear up the conflicting jurisprudence regarding the point at which limitation periods that apply to disability claims start to run. “The decisions from lower courts are all over the place and the court will have to reconcile them,” says Nainesh Kotak, a […]
The Federal Court has certified a $100 million class action brought by former members of the Canadian Armed Forces reserves who alleged that the government illegally delayed their retirement benefits. “There were 1,300 complaints to the CAF ombudsman between 2006 and 2017,” says Adam Tanel, an associate at Koskie Minsky LLP and co-counsel for the class. The […]
An arbitrator has ruled that part-time employees who have returned to work after retiring and are receiving pension benefits from the Healthcare of Ontario Pension Plan aren’t “members” of the plan for the purpose of calculating their benefit entitlements if they choose not to re-enrol in the HOOPP on resuming service. The upshot of arbitrator […]
A recent decision by Ontario’s Divisional Court means that the province’s hospital sector is bound to provide long-term disability coverage to unionized employees who work past age 65. While the court’s ruling dealt only with the collective bargaining agreement between Markham Stouffville Hospital’s site at Uxbridge and the Canadian Union of Local Employees’ Local 1999, the […]
The Ontario Court of Appeal has taken a technical approach to interpreting “termination clause” in ruling that a failsafe clause that doesn’t clearly apply to the entirety of a termination clause won’t be enforceable. “The big takeaway from Andros v. Colliers Macaulay Nicolls Inc. is that courts will pay close attention to grammar and structure in […]
The Financial Services Regulatory Authority is giving late-filing pension plans a “one-time” opportunity to avoid administrative monetary penalties. The “safe harbour,” which applies to any outstanding filings under the Pension Benefits Act, expires on Oct. 31. “Rather than have people concerned about flagging non-compliance with late filings, the FSRA has offered this amnesty of sorts,” […]