Pension Valuation Pitfalls

Changes to the Ontario Pension Benefits Act pursuant to Bill 133 came into effect on January 1, 2012. Beware family law practitioners and pension valuators as the transition period may result in negligence claims. Consider the case where spouses are involved in ongoing family law litigation over division of property and equalization when the changes in the law take effect. The husband has a teachers pension with OMERS. Prior to the amendments to the law, the The €36m hotel and entertainment complex assists because the new house of OEG’s gambling problems flagship Olympic Casino , that will operate from the Radisson Blu Hotel Olümpia before the new 13-storey facility is finished in December 2015. husband obtained a pension valuation from an accounting firm. The wife”s lawyer, unaware that changes to Hvis du er interessert i a l?re mer om online casino Roulette Strategier, kan du lese mer om det her. the law now require members of They capricorn today horoscope and like to be loved. Ontario regulated pension plans to obtain valuations from plan online casinos administrators, retains an independent accounting and business valuation firm after January 1, 2012, and 60 days before trial. Although the wife”s lawyer advised the accounting firm he required the valuation report for trial, they failed to tell him the pension valuation could only be performed by the plan administrator. The pension valuation obtained by the wife at a cost of $2,500.00 is not admissible at trial. The wife requests an adjournment of the trial to obtain a valuation from OMERS and the husband claims his costs  for the trial adjournment. The result is that both the wife”s lawyer and the accounting firm could be liable in negligence.