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By Julius Melnitzer | June 21, 2021 “inadequate” men suit financial services prototypes “Mediocre” male managers practising “fake empathy” are holding back women in the finance industry, says a new report from Women in Banking and Finance and the London School of Economics (LSE). Apparently, the men were more likely to succeed because they fit […]
Ontario court upholds arbitration clause in employment contract
By Julius Melnitzer | June 11, 2021 An arbitration clause that doesn’t explicitly prohibit a terminated employee from making a complaint to the Ministry of Labour doesn’t offend employment standards legislation, the Ontario Superior Court has ruled. “The ruling will give comfort to employers that Ontario courts will enforce arbitration clauses,” says David Vaillancourt of […]
Federal budget promising relief for DC pension plan under, over contributions
By Julius Melnitzer | May 6, 2021 Tucked away in the federal budget are proposals that will lighten the load for defined contribution pension plan administrators confronted with historical under and over contributions. “These errors are usually inadvertent system or software issues or new regulatory guidance or rulings that have retroactive effect,” says Mark Firman, […]
Pension regulators step up to the plate amid turmoil
By Julius Melnitzer | February 16, 2021 For almost a year now, federal and provincial pension regulators have been busily trying to mitigate the coronavirus pandemic’s effects. Regulators have never been more proactive than during COVID-19,” says Mitch Frazer, a pensions and employment law partner at Torys LLP. “They deserve full credit for refusing to […]
Family-status discrimination is ‘minefield’ for employers
By Julius Melnitzer | January 18, 2021 Confusion as to what constitutes family-status discrimination in Canada continues to vex employers. “The Supreme Court of Canada had an opportunity to create a uniform test across the country in 2019 but chose not to hear the case,” says Gary Clarke, the Calgary and Vancouver-based national co-head of Stikeman Elliott LLP’s […]
What are the legal risks of ESG?
May 15, 2020 With environmental, social and governance considerations hovering on the agendas of legislators, shareholders and consumers, it’s easy to overlook the fact that responsible investment can be fraught with legal risks for pension plan sponsors. However, plan sponsors can mitigate much of that risk with a proper understanding of the distinction between ESG […]
Pension funds set to increase private equity allocations: survey
March 10, 2020 The majority (79 per cent) of pension fund and private equity professionals expect their passive private equity allocations to either stay the same or increase in 2020, according to a new survey by Torys LLP. Pension funds, in particular, cited competition for new investment opportunities (65 per cent) and pressure from limited partners […]
Arbitrability of LTD claims in Ontario’s hospital sector heading to Supreme Court
February 26, 2020 The issue of whether long-term disability claims are arbitrable or matters for the court, which has plagued Ontario’s hospital sector for over a quarter of a century, is on its way to the Supreme Court of Canada. “The current state of the law, which denies employees seeking long-term disability benefits under insurance […]
$100M judgment against Bell may signal uptick in pension indexing litigation
February 24, 2020 The Ontario Court of Appeal has ruled that Bell and its related companies, including Bell Canada, Bell Media Inc., Expertech Network Installation Inc. and Bell Mobility Inc., have been miscalculating the cost-of-living adjustment due to their 35,000 pensioners since 2017. The judgment could cost the telecommunications company up to $100 million and signal […]
2018 to be a busy year for pension reforms
January 3, 2018 If there’s one thing that’s clear about pension reform in 2018, it’s that sponsors will have their hands full, particularly in Ontario. “There’s no question in my mind that impending changes to Ontario’s pension laws will motivate administrators and service providers to up their game,” says Mary Picard, a partner at Dentons […]