The decision is good news
for pension plan members as it indicates a strong endorsement that pension plans and special payments need to be maintained and will trump recovery by a secured creditor.
She also acted as co-counsel on behalf
of pension plan members in a national class action involving the distribution of pension surplus arising out of a partial plan wind up in Ontario to employees, partial wind up members and retirees.
Survivor benefits would have to be payable to the surviving spouse of an Ontario Retirement
Pension Plan member in accordance with the legislation.
As an
OMERS pension plan member, a new opportunity arose last year through OMERS, called Additional Voluntary Contributions (AVC).
Pension plan members in the private sector need to at least consider the risk of their company being able to fund their pension payments for life if they have the opportunity to commute their pension and otherwise take a lump - sum payout upon leaving the plan.
Let's review: Every dollar of under - funding is a dollar of wealth transferred away from
the pension plan members to either current beneficiaries or the promoters of the fund investments.
A: It is not uncommon for
a pension plan member to be able to buy back service in their pension plan.
Your employer calculates something called a Pension Adjustment (PA) that appears each year when you are
a pension plan member.
The Court upheld the lower courts in finding that reducing a supplementary death benefit to a surviving spouse according to the age of
the pension plan member at death did not violate s. 15 of the Charter.
Can a Union apply for an order here, subordinating U.S. Steel claims in whole or in part to its own claims, based on the conduct of U.S. Steel in relation to the Canadian plants, pensioners,
pension plan members and beneficiaries; and can a CCAA judge apply the doctrine of equitable subordination.
The Court upheld the lower courts in finding that reducing a supplementary death benefit to a surviving spouse according to the age of
the pension plan member at death... [more]
The decision in Timminco won't apply in all situations in all companies and pension plans, says Hobday, but adds: «Whether you're
a pension plan member or retirees they should be pleased as it represents more protections than they had before.
The Court declined to determine whether the owner of a survivorship interest could effectively waive that interest to create a trust in favour of
the pension plan member's beneficiaries.
Administrators will have to rely on experts to determine whether an individual is a spouse of
a pension plan member, if the two individuals have been living together for less than three years, but may qualify as «spouses» because there is a child.