Terra L. Klinck

Terra is a 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 private employers and administrators, primarily in the private sector, on all legal issues relating to pension and benefit plans.

In recent years, much of Terra’s practice has focused on 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), and the full closure of DB plans for international and national employers. Coincidentally, she had increased experience with DC arrangements and legal issues relating to such plans.

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

Terra has a wealth of experience advising employers and plan administrators on a wide range of governance and administrative matters relating to pension and employee benefits plans.

In addition to her pension and benefits practice, Terra advises Boards of Directors and senior management on executive compensation matters. She has expertise in the design, implementation and drafting of equity compensation plans and other long-term incentive and compensation plans, including compliance with tax and other regulatory requirements.

Representative Work

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

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.

Awards & Accolades

  • Canadian Legal Lexpert Directory (2015-2018)

Associations & Memberships

  • Osgoode Professional Development – Past Instructor, Pension Law Certificate Program
  • Canadian Bar Association (National Pensions and Benefits Law Section) – Member of the Newsletter Committee
  • Ontario Bar Association – Member (Pension and Benefits Section) (previously participated on the Executive)
  • Canadian Pension and Benefits Institute – Member
  • The Association of Canadian Pension Management (ACPM) – Member
  • Federated Press Taxation of Executive Compensation and Retirement Journal – Prior member of the Executive Board


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

Publications & Presentations

  • 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)