- Posts by Jessica Kim
AssociateJessica is an associate in the Pension and Employee Benefits Group of Lawson Lundell. She works with the group to advise plan sponsors, boards of trustees and plan administrators in Western and Northern Canada on pensions and ...
In May 2023, the Canadian Association of Pension Supervisory Authorities (CAPSA) released a final draft of its Risk Management Guideline for pension plans. Following a consultation and review period, CAPSA released the final version of the Guideline on September 9, 2024.
We strongly recommend that all pension plan administrators carefully review the final version of ...
On July 8th, the B.C. Financial Services Authority ("FSA") released a new draft Information Security Guideline, and opened a consultation period set to close on September 6th, 2024. The new draft Guideline will apply exclusively to pension plan administrators (“PPA”).
As you may recall:
- In January 2021, B.C. FSA released a draft Information Security Guideline which ...
On February 29, 2024, the BC Financial Services Authority (“BCFSA”) released Advisory 24-003. The Advisory informs administrators of defined contribution (money purchase) plans registered in British Columbia of BCFSA’s intent to ask for certain information about those pension plans directly from fundholders. Recall that every pension plan in British ...
In recent years, we have seen a noticeable increase in the regulatory focus on risk management to address evolving and growing risks facing pension plan administrators (including cyber security, climate change and investment risks, to name a few):
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CAPSA Draft Risk Management Guideline
In May 2023, the Canadian Association of Pension Supervisory Authorities (CAPSA ...
On June 6, 2023, the BC Financial Services Authority (BC FSA) issued a new guideline on best practices for multi-employer pension plans (MEPPs).
BC FSA advised in its Advisory 23-025 that the MEPP Best Practices Guideline is aimed at informing administrators and stakeholders of best governance practices of MEPPs registered in B.C. It also sets out BC FSA’s expectations ...
The British Columbia government recently introduced changes to the Family Law Act, including amendments to the rules for pension division on relationship breakdown. These changes are part of Bill 17, which received Royal Assent on May 11, 2023.
Among other things, Bill 17 is intended to modernize and provide greater clarity and guidance with respect to pension division in ...
The Pension Benefits Standards Act requires B.C. registered pension plans to conduct triennial plan assessments which assess the administration of a pension plan with respect to compliance with the Act, governance, funding, investment, and the performance of trustees and administrators.
For most pension plans (those with a fiscal year of January to December), the next ...
As part of the Budget Implementation Act, 2021, the federal government announced on November 25, 2022 that Employment Insurance (EI) sickness benefits will be extended from 15 weeks to 26 weeks, effective December 18, 2022.
Employees who qualify and establish a new EI claim on or after December 18 will be eligible for up to 26 weeks of EI sickness benefits and will receive ...
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Lawson Lundell's Pension and Employee Benefits Law Blog provides updates on the most recent legal developments impacting pension and employee benefit plans. We cover a range of topics, including recent case law and changes to relevant provincial and federal legislation.
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