How mergers and acquisitions impact executive compensation
By Julius Melnitzer | December 19, 2024 Mergers and acquisitions can give rise to many legal and financial complexities related to executive compensation. “The key thing from acquirers’ point of view is to understand what their objectives are with respect to executive compensation,” says Elizabeth Boyd, a pensions, benefits and executive compensation partner at Blake, […]
What Should Employers Know About Quebec’s Pension Laws?
By Jenna Shelby | November 24, 2024 When expanding or acquiring businesses in Quebec, understanding the province’s unique pension laws is crucial. The rules that govern retirement savings here are among the most progressive in Canada, making it essential for businesses to ensure they’re in full compliance while also tapping into the advantages these frameworks […]
Quebec class action raising questions over DB pension liability following plan sponsor reorganization
By: Julius Melnitzer | October 8, 2024 A recent Quebec Superior Court decision has unleashed uncertainty over the liabilities of companies and their directors when a pension deficit appears in the context of a reorganization. The court authorized a group of defined benefit pension plan members to proceed with a $65 million class action against companies […]
What should employers know about Quebec’s pension legislation?
By Julius Melnitzer | August 3, 2024 Businesses that are planning to establish themselves in Quebec by way of expansion or acquisition should be aware of some unique aspects of the province’s pension and benefits laws. Employers are required to make a voluntary retirement savings plan available to their employees. In addition, provincial legislation prohibits […]
Ontario court rules employer not obligated to preserve past service benefits
By: Julius Melnitzer | July 16, 2024 Ontario’s Small Claims Court has ruled that an employer’s letter, which described the benefits coverage that would exist following a divestment as ‘comparable’ to prior levels of coverage, didn’t create a contractual obligation to preserve past service benefits. “The decision makes a clear distinction between an informational announcement or […]
More work to be done on feds’ plan to encourage domestic pension investments: lawyers
By: Julius Melnitzer | May 23, 2024 The federal government’s promise to encourage Canadian institutional investors to invest more domestically is taking shape with two key initiatives found in the 2024 budget. The first involves the creation of a working group led by Stephen Poloz, former Governor of the Bank of Canada, to explore domestic opportunities for […]
Saskatchewan arbitrator sides with Canadian Blood Services in pension contributions case
By: Julius Melnitzer | May 16, 2024 A Saskatchewan arbitrator has ruled that Canadian Blood Services doesn’t owe an employee eight years of retroactive pension contributions because it took the proper steps to fix its failure to provide her with enrolment forms within the appropriate time limits. “The decision recognizes that mistakes happen in administering pension […]
Ontario court sides with IBM in pension benefits rectification case
By: Julius Melnitzer | April 25, 2024 An Ontario Superior Court ruling that allowed IBM Canada Ltd. to retrospectively rectify drafting errors that created unintended additional pension benefits for employees on disability leave augurs well for plan sponsors seeking similar relief going forward. “The case clarifies that there is a specific test for rectification of pension […]
Court of Appeal upholds $1.5 million punitive damages award in LTD claims case
By: Julius Melnitzer | February 3, 2024 The Ontario Court of Appeal’s affirmation of a $1.5 million punitive damages award — reportedly the largest of its kind in a Canadian long-term disability case — may signal greater exposure for employers and insurers that fail in their duty to treat such claims in good faith. “The court had no […]
Canadian jurisdictions enacting pay transparency legislation, but more work to be done
By Julius Melnitzer | November 23, 2023 Pay transparency legislation is quickly gathering steam in Canada as provincial governments take steps towards shrinking the gender wage gap. Prince Edward Island was first to the post with pay transparency provisions in June 2022. While Newfoundland and Labrador’s Pay Equity and Transparency Act received royal assent in November […]