BMKP Sidebars

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Ontario Government Supports Efficiencies in Pension Sector

November 19, 2018

Last Thursday the new Ontario government presented the 2018 Fall Economic Outlook and Fiscal Review.  Budget legislation, Bill 57, Restoring Trust, Transparency and Accountability Act, 2018, was introduced in the legislature on the same day.  The 2018 Fall Economic Outlook and Bill 57 included…Read More

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Ontario Pension Benefits Act Amended to Provide a Discharge for Buy-out Annuity Purchases Effective July 1, 2018

June 20, 2018

De-risking of defined benefit (“DB”) pension plans has been an important topic for Canadian employers and pension plan administrators in recent years.  The use of “buy-out annuities” is one of the de-risking strategies available while a pension plan is ongoing.  Very generally, a buy-out annuity purchase…Read More

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Reduced Solvency Funding and PfADs Change the Ontario DB Funding Landscape

April 24, 2018

Ontario Regulation 250/18 (the “Funding Regulation”) was issued on April 18, 2018 and introduces a new funding regime for Ontario-registered defined benefit (“DB”) pension plans.  The new DB funding regime essentially replaces the existing…Read More

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Pension and Benefit Highlights of the 2018 Ontario Budget

March 29, 2018

On March 28, 2018 the Ontario Government released its 2018 Budget, A Plan for Care and Opportunity (the Budget), along with companion legislation,  Bill…Read More

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Missing Members, Present Obligations

January 15, 2018

Missing former members have long been an issue for pension plan administrators.  Historically, missing beneficiaries posed challenges when pension payments were scheduled to commence and at the time of a plan wind-up.  In 2017, administrators were for the first time required to provide a biennial…Read More

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Welcome Amendments to the Ontario Pension Benefits Act Contained in Stronger, Fairer Ontario Act (Budget Measures), 2017

November 21, 2017

Ontario introduced Bill 177, Stronger, Fairer Ontario Act (Budget Measures), 2017, for first reading on November 14, 2017. The Bill makes a number of amendments to the Ontario Pension Benefits Act (the PBA), which will be of interest to employers and pension plan…Read More

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AMPed up Pension Enforcement Coming to Ontario

October 05, 2017

In December 2016, the Ontario legislature passed changes to the Ontario Pension Benefits Act (PBA) which, when proclaimed into force, will authorize the Superintendent of Financial Services (the Superintendent) to impose administrative monetary penalties (AMPs) in connection…Read More