On July 29, 2004 the Supreme Court of Canada held that when a defined benefit pension plan is partially wound up, a portion of any actuarial surplus existing at the time must be distributed from the pension fund (Monsanto Canada Inc. v. Superintendent of Financial Services). You may be directly affected by this decision if you sponsor or administer a defined benefit pension plan that is federally registered or is registered (or has members in) in Ontario, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia or Newfoundland.

type International Law Updates - August 2, 2004