Blakes Pensions, Benefits & Executive Compensation Group

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Pensions, Benefits & Executive Compensation Group

The Blakes Pensions, Benefits & Executive Compensation group offers an unsurpassed depth and breadth of experience in this highly specialized area of law.

Our clients include many of the largest Canadian pension and benefit plans and funds, both public and private. We also advise investment managers, foreign businesses entering the Canadian market, trust companies, banks, and insurance companies regarding investment products and services for pension, health and welfare funds. 

Expertise

Executive Compensation

Blakes assists clients with structuring executive compensation arrangements that comply with relevant tax, securities, minimum standards, trust and other laws, and achieving business objectives. We have significant experience in the design and implementation of equity-based compensation for executives and directors, pay-for-performance, flexible benefits, and golden (or platinum) handshakes and handcuffs. 

Plan Administration

With our broad experience on all aspects of plan administration, we can advise clients on a host of issues. These include compliance with income tax and pension standards legislation; plan audits; fiduciary issues; member communications; benefit splitting on marriage breakdown; plan mergers, asset transfers, conversions, spinoffs and windups; compliance reviews; and multi-jurisdictional issues. 

Environmental, Social and Governance (ESG)

We also advise on ESG matters that pension plans should consider, including legal and equitable considerations. We provide opinions on the fiduciary responsibility of plan administrators and trustees relating to ESG. We advise on how plan administrators and trustees can effectively structure and monitor investments in relation to ESG. 

Plan Governance

We have one of the premier pension governance practices. Our lawyers have specialized governance training and advise some of the largest Canadian pension plans and plan sponsors on their governance structures and ongoing governance issues. 

Litigation

We have been at the forefront of almost every significant pension case in Canadian legal history, including the first Supreme Court of Canada decision concerning pension surplus and contribution holidays. We have also represented parties in virtually every type of pension dispute before Canadian courts at all levels and administrative tribunals. 

Pension Plan De-Risking

Defined benefit pension plans in Canada have joined the global trend of “de-risking.” Blakes has led the way in advising plan sponsors, plan trustees, insurers, reinsurers and other financial institutions on the entire range of de-risking strategies. We have provided advice on some of the largest and most innovative de-risking transactions in Canada to date. 

Pension Fund Investment

Our pension fund and other institutional investor clients rely on us to advise, negotiate and assist at every phase of the investment process and in post-transaction monitoring. This includes investments in a wide range of asset classes, as well as public market investments and acquisitions, and various associated investment transactions such as securities lending, securities borrowing and complex derivative arrangements. 

Transactional Expertise

Our group works closely with our Corporate & Commercial and Capital Markets colleagues to advise on the pensions, benefits and compensation issues that arise in mergers, acquisitions, insolvencies, restructurings and other corporate transactions.