Pensioners of insolvent companies left out of contingency fee debate
Friday, January 05, 2018 Something’s been lost so far in the debate about contingency fees that the Law Society of Upper Canada (LSUC) calls “[protecting] access to justice for the public, while ensuring protection from unscrupulous practices and unreasonable fees.” Unfortunately, what’s been lost are a lot of people. They’re called “pensioners,” a group that […]
Canadian pension funds increasingly using co-investments to diversify real estate holdings
March 6, 2018 In their constant search for diversification, Canada’s largest pension funds seem to be continually restructuring their Canadian office building portfolios. “The goal has been to redeploy their investments by expanding internationally and developing new class A office buildings in Canada as well,” says Ayres Gonsalves, vice-president of commercial at Dorsay Development Corp., a […]
A look at trends in long-term incentive plans
April 16, 2018 While many employers offer a comparable pension or health benefits plan to all employees, where long-term incentives plans are available they usually vary by employee level. A recent Willis Towers Watson survey of Canadian publicly traded companies with revenues exceeding $2 billion found 100 per cent of these companies’ chief executive officers and […]
More waiting could be in store for Nortel pensioners
May 1, 2018 A move by the Financial Services Commission of Ontario to reclaim $200 million from monies allocated to pensioners in the Nortel Networks Corp. bankruptcy could leave their recovery — up in the air since 2009 — in limbo for another four years. In an application filed with the commission, Mark Zigler of […]
A look at Sears’ U.S. pension prospects as Canadian windup ordered
April 30, 2018 Whatever the fate of Sears Holdings Corp.’s operations in the United States, the company’s American pensioners are likely to emerge better off than their Canadian counterparts. Much of that is due to the broad powers available to the Pension Benefit Guaranty Corp., which regulates pensions in the United States. “The PBGC can act […]
A closer look at Ontario political parties’ pension, benefits promises
May 30, 2018 Despite not yet announcing its election platform, Ontario’s Progressive Conservative Party may have the greatest potential for affecting pensions and benefits in Ontario. “The Conservatives’ broad focus on balancing the budget, which may result in their rationalizing OHIP and delisting some services, represents the real impact potential in this election,” says Anneliesje […]
Ontario’s pension-solvency rules mean non-unionized workers can’t get the best plan
‘We should urgently be doing everything possible to protect the financial future of 60% or 70% of Ontario workers who have no pension’ July 10, 2018 The Ontario government’s policy of granting preferential pension funding rules to unionized workplaces may be impairing the ability of workers in non-union and non-profit workplaces to prepare and plan […]
Legal cases highlight issues around LTD coverage
October 12, 2018 Whether considering age eligibility or policy wording, recent rulings for employees in a pair of Ontario cases are reminders to employers to review their long-term disability offerings. When I’m 65 Ontario employers may no longer have the option to reduce or eliminate health and life insurance benefits for employees aged 65 or […]
A look at Alberta’s incoming joint pension governance structure
December 3, 2018 Although it’s somewhat late in the making, Alberta’s new pension legislation proposing a joint governance structure for three of the province’s largest pension plans appears to have kept up with the times. “The legislation is a made-in-Alberta plan that takes into account that almost 25 years have passed since we first saw […]
Appeal court upholds ruling in RCMP pension case
December 20, 2018 The Federal Court of Appeal is upholding a ruling denying female Royal Canadian Mounted Police employees the opportunity to buy back into their pension plan after they moved to part-time roles to raise their families. The case arose when three former RCMP officers opted to job share and work reduced hours to spend more […]