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BC's new pension standards legislation will come into force on September 30, 2015, announces government

Topics: - Pensions
Jurisdiction: - British Columbia
Sector: - All

The BC Ministry of Finance issued the following news release on May 13, 2015 regarding the province's new pension standards legislation:

The Province's new Pension Benefits Standards Act (PBSA), which accommodates alternative pension plan designs and improves plan governance, comes into force on Sept. 30, 2015, Finance Minister Michael de Jong has announced.

The new legislation modernizes the existing policy and regulatory framework for B.C.'s occupational pension plans by replacing the current legislation. It has been largely harmonized with Alberta legislation to streamline the operation of pension plans with members in both provinces.

Key benefits of the PBSA include greater access to financial hardship unlocking, enabling the establishment of target benefit plans, and enhanced disclosure and governance of pension plans.  read more »

Ontario one step closer to rolling out Ontario Retirement Pension Plan by January 1, 2017

Jurisdiction: - Ontario

The Ontario Ministry of Finance issued the following news release on April 29, 2015 concerning the Ontario Retirement Pension Plan, which is currently scheduled to be rolled out by January 1, 2017:

Bill Strengthening Retirement Security for Millions of Workers Passess in Ontario Legislature

The Ontario Retirement Pension Plan Act, 2015 has been approved by the Ontario Legislature. The Act forms the foundation of the ORPP, which the government will put in place by January 1, 2017.

Ontario has held extensive consultations across the province with business, labour, associations, young workers, pension experts, individuals and families to ensure that the government creates the best plan for the people of Ontario.

Once established, the ORPP will be the first of its kind in Canada, building on key features of the Canada Pension Plan (CPP). The ORPP will:  read more »

Should "obesity" be a prohibited ground of discrimination in Canadian human rights legislation?

The National Post newspaper ran a story today ("Obese Canadians should be granted legal protection from discrimination, professor says") which discussed whether obese people should be protected from discrimination in Canadian human rights legislation.

The article noted that this could be achieved in a few different ways. First, obesity could be treated as a "disability", which is already a recognized ground in human rights legislation. As it relates to this approach, the article noted theat:  read more »

BC indexing general minimum wage and liquor server wage to provincial Consumer Price Index

Jurisdiction: - British Columbia

The BC Government issued the following news release on March 12, 2015:

The B.C. government is indexing increases in the general minimum hourly wage and liquor server wage to B.C.'s Consumer Price Index (CPI), Minister for Jobs, Tourism and Skills Training, and Minister Responsible for Labour, Shirley Bond announced today. 

The government is committed to reasonable and predictable yearly minimum wage increases linked to B.C. CPI. Going forward, from 2016 onward, the minimum wage will be determined using a formula calculated upon the percentage the B.C. Consumer Price Index (CPI) increased in the previous calendar year. In years where there is a negative CPI change, the minimum wage would stay the same.

In addition, this indexing formula is being applied to the period since the last minimum wage increase in 2012. Effective Sept. 15, 2015, the general minimum hourly wage will increase from $10.25 to $10.45 and the liquor server wage from $9.00 to $9.20 per hour.  read more »