Terra L. Klinck

Terra is a senior lawyer at BMKP Law practicing in the areas of pension, benefits and executive compensation law.

Terra has over 20 years’ experience advising both provincially and federally regulated employers and plan administrators, primarily in the private sector, on all legal issues relating to DB and DC pension plans and benefit plans, including: governance, fiduciary responsibilities, plan administration and regulatory compliance, funding requirements, pension fund investment and surplus utilization.

Terra has a wealth of experience advising private sector employers restructure their legacy DB pension arrangements, including investment restructuring and de-risking initiatives (e.g., buy-in and buy-out annuity purchases), plan mergers and plan wind-ups.  

Terra has extensive experience advising on pension and benefit matters in corporate transactions, including mergers and acquisitions, insolvencies and restructurings.

Representative Work

Is currently advising a large professional association on the development and implementation of a novel retirement program for its 40,000 members.

In 2018, advised the employer sponsor of a public sector jointly sponsored pension plan on the creation of a new benefit option under the plan for the not-for-profit sector.

Acted as pension and benefits counsel to a large steel manufacturer in its 2014-2017 Companies Creditors’ Arrangement Act proceedings, in which the restructuring of legacy pension and post-retirement benefits were a critical aspect of the restructuring. Acted for this employer in 2018 in the successful further restructuring of the "post-retirement benefit deal" with the unions and retiree groups.

In 2015-2016, acted as pension counsel to one of two pension plans who entered into a novel $530 million buy-in annuity transaction where longevity and inflation risk were transferred to the insurer. This was the largest transaction of its kind in Canadian history.

Terra Klinck has acted for both purchasers and sellers, advising on pension, benefits and employment matters, in a number of corporate M&A transactions in recent years.

Awards & Accolades

undefined undefined undefined undefined
  • Chambers Canada (2021-2022)
  • The Best Lawyers in Canada (2020-2022)
  • Who’s Who Legal: Labour, Employment & Benefits (2019-2021)
  • Who’s Who Legal: Canada (2019-2020)
  • Canadian Legal Lexpert Directory (2015-2018, 2020-2021)
  • Lexpert Zenith Award (2018)

Associations & Memberships

  • Osgoode Professional Development | Instructor, Pension Law Certificate Program
  • Canadian Bar Association | National Pensions and Benefits Law Section | Executive Member | Co-chair of the Advocacy and Government Relations Committee
  • Ontario Bar Association | Member (Pension and Benefits Section) (previously participated on the Executive)
  • Financial Services Regulatory Authority of Ontario, Standing Technical Advisory Committee for Defined Contribution Pension Plans | Member


  • University of Western Ontario, LL.B.
  • McGill University, B. Comm. (with Distinction)
  • Yale University – Exchange Student

Publications & Presentations

  • “Terminating Benefits at Age 65 is Unconstitutional, Says Human Rights Tribunal”, Canadian Bar Association, Pension and Benefits Law Section (February 4, 2019)
  • CPBI Ontario Signature Series: Pension Investment Forecast, Canadian Pension and Benefits Institute (January 7, 2019)
  • 16th Annual Pensions and Benefits Hot Spots, Ontario Bar Association., Jason Paquette was the co-chair of the session. Terra Klinck spoke on the topic of Annuity Discharge Rules. (October 15, 2018)
  • Globalization of Annuity Markets - The Canadian and US Markets, The 16th Annual Bulk Annuities Conference (April 25-26, 2018)
  • Alberta Court Holds Provincial Pension Plan Administrator Liable for Negligent Misrepresentation, Canadian Bar Association Newsletter (February 22, 2018)
  • Cross Border Pension Governance Audits, American Bar Association-Canadian Bar Association Joint Committee on Employee Benefits Webinar (December 14, 2017)
  • Advancing Retirement Readiness for Canadians, Panel at the Franklin Templeton Investments 2017 Retirement Innovation Summit (November 8, 2017)
  • “Résumé jurisprudential: General Motors of Canada Limited v. Ontario (Superintendent Financial Services), 2015 ONFST 39", Canadian Bar Association E-News, Co-author (August 17, 2016)
  • “Considerations when Purchasing Annuities”, The Savvy Pension Lawyer: Show Me the Money! Issues and Practical Considerations in Pension Finance – Ontario Bar Association, Co- presenter (May 2016)
  • “ESG: Coming Soon to a SIP&P Near You”, CPBI Ontario Regional Conference (October 28, 2015)
  • “Tribunal upholds decision to refuse registration of pension plan amendment”, Canadian Bar Association E-News, Co-authored with Terra L. Klinck (March 2015)
  • “The Future of Workplace Pensions”, Benefits Canada Newsletter, Co-author (August 6, 2014)