On March 25, 2015, the Government of Canada published regulations amending the Pension Benefits Standards Regulations, 1985 (the “PBSR”). The amendments include changes to the federal investment rules set out in Schedule III of the PBSR (the “Investment Rules”). As the Investment Rules have been adopted by reference in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Newfoundland and Labrador, the changes extend beyond the federal jurisdiction. The amendments are intended to modernize the Investment […]

In February, we reported on the Merchant Navy case where the High Court confirmed that trustees could take into account the interests of employers as long as their decision furthered the primary purpose of the scheme (which was to secure the promised benefits for the members). A recent decision of the Deputy Pensions Ombudsman (DPO) highlights what could happen where the trustees go too far in favouring the interests of the employer. In the […]