Serious Implications Arising From Supreme Court of Canada Pension Ruling in Monsanto Case (Bulletin)
Date:
August 1 2004
You may have seen reports in the media regarding the significant Supreme Court of Canada (“S.C.C.”) Monsanto decision issued on July 29th, concerning the interpretation of the Ontario Pension Benefits Act (the “PBA”). This decision impacts employers with defined benefit pension plans that have been partially wound up (terminated), including plans resulting from a merger of one or more plans that were subject to a partial wind up. It may also affect employers who had defined benefit plans which have been converted into defined contribution plans if the defined benefit plan (or a predecessor to it) was subject to a partial wind up. The Monsanto decision affects both past and future partial wind ups.
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