The Fraser Institute issued this news release on June 4, 2015:
Government employees in Canada paid 9.7% more than comparable employees in private-sector
TORONTO-Government employees in Canada receive higher wages and likely more generous non-wage benefits than their private-sector counterparts, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
"As governments across Canada struggle with persistent deficits and growing debt in the face of ongoing negotiations with public-sector unions, now is an opportune time to scrutinize the compensation of government employees nationwide," said Jason Clemens, executive vice-president of the Fraser Institute and co-author of Comparing Government and Private Sector Compensation in Canada. read more »
BC's new pension standards legislation will come into force on September 30, 2015, announces government
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 »
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 »
The federal government issued the news release below yesterday (June 25, 2014) regarding the target benefit pension plan consultations that it commenced in late April 2014.
Target benefit pension plans - also known as shared risk plans - represent an alternative to defined benefit or defined contribution pension plans. Several provinces have already passed legislation providing for target benefit pension plans, but in many cases that legislation is not yet in force.
Harper Government Completes Public Target Benefit Plan Consultations read more »
The BC Government issued the following news release yesterday (February 19, 2014):
VICTORIA - Amendments to the new Pension Benefits Standard Act clarify elements of the original act and help ensure the legislation will be ready for proclamation later this year, Finance Minister Michael de Jong announced today.
Today's amendments are primarily technical corrections, including: read more »
Supreme Court of Canada confirms that pension benefits should not be deducted from notice period damages
In IBM Canada Limited v. Waterman, 2013 SCC 70, the majority (7/2) of the Supreme Court of Canada confirmed that pension benefits should not be deducted from notice period damages. In doing so, the Supreme Court of Canada upheld the decisions of the BC Court of Appeal and the BC Supreme Court. My summary of the BC Supreme Court's ruling, which sets out the facts, can be found here.
In the majority ruling the Supreme Court of Canada summarized its ruling as follows: read more »