Start Asking Questions About Guernsey QROPS Now Rather Than Later

Is your client locked into a Guernsey QROPS? Our head of international pensions has a word of warning.
With the pension market opening up as the UK Government moves to create “Pension Freedom”, it would appear that some Guernsey schemes might seek to prevent those who have transferred their UK Pension Funds to a (now closed) GuernseyQROPS from taking advantage of the new regulations.

One Guernsey provider commented (extract):

“We are starting to see requests from other QROPS clients […]

By | January 31st, 2015 ||

Canada: More Employer Liability Risks With New Ontario Employment Standards

Employment Standards Act, 2000 (ESA)
a.) Monetary Cap on Claims Eliminated and Time Limits Increased

The cap on ESA claims is being removed. As of February 20, 2015, the maximum amount an employment standards officer may order for unpaid wages will no longer be capped at $10,000 per employee. The new section 103(4.1) under Part XXII “Complaints and Enforcement” will impose no limit on the amount an officer may order. This change will make the ESA […]

By | January 31st, 2015 ||

Canada: Relying On After-Acquired Cause To Set Aside Settlement Agreement

After an employee has been dismissed without cause, an employer can allege cause if misconduct of the employee is discovered after the dismissal – this is “after-acquired cause for dismissal”.

In Dennis v Ontario Lottery and Gaming Corporation 2014 ONSC 3882, the Court found that the after acquired evidence did not amount to just cause for dismissal. The Court refused to set aside the settlement agreement, and held that the employee was terminated without cause.

In […]

By | January 31st, 2015 ||