David Vincent's corporate and commercial practice emphasizes all aspects of pension and benefits matters, including ongoing pension plan administration, compliance and investment issues, pension plan wind-up, partial wind-up, surplus withdrawal and insolvency issues, matters relating to the Ontario Pension Benefits Guarantee Fund, contribution holidays and pension plan conversions, as well as supplementary pension arrangements, non-pension and post-retirement benefit issues.
Mr. Vincent has experience with insolvent pension plans and pension plans of insolvent companies. He advises pension funds on private equity and other alternative investments. Mr. Vincent also uses his corporate law background to advise on pension and benefits matters in the context of mergers, acquisitions, divestitures and other reorganizations.
Mr. Vincent has been a member of the Pension Reform Advisory Council, established by the Ontario Minister of Finance, since 2009. He served a three-year term as a member of Ontario's Financial Services Tribunal and is a past Chair of the Legal Advisory Committee of the Pension Commission of Ontario.
Selected client work
Mr. Vincent has acted for the following clients:
· Nortel Networks Limited as pension and benefit counsel regarding its CCAA proceedings
· The Anglican Church of Canada on its pension and benefit arrangements
· The Board of Directors of Air Canada on pension issues relating to CCAA proceedings
· John Deere Inc. in respect of pension matters
· Shoppers Drug Mart in respect of the partial wind-up of its Executive Pension Plan
· Colgate-Palmolive Canada Inc. in respect of pension plan matters
· The Régie des rentes du Québec as an expert witness before the Tribunal administratif du Québec
· The Ontario Minister of Finance in respect of Pension Benefit Guarantee Fund issues relating to the insolvency of Algoma Steel Inc.
Speaking engagements
· "Re Indalex Limited, 2011 ONCA 265" (panellist), Osgoode Hall Law School CLE Critical Case Update, Toronto, June 15, 2011
· "Ontario Pension Reform: What You Need to Know and Do to Bring Your Plan into Compliance with New Pension Law Changes," Bongarde Media Co. Webinar, Toronto, March 31, 2011
· "Pensions in Corporate Transactions and Restructuring" (instructor), Osgoode Certificate in Pension Law, Toronto, February 22, 2011
· "Legislative Reform: Managing Pension Plans in Light of Extensive Legal Changes," The Canadian Institute's 12th Annual Advanced Forum on Pension Reform, Litigation and Governance, Toronto, January 25-26, 2011
· "Benefit Security" (moderator), 2010 Pension Fund Invitational Forum, Northwind Professional Institute, Cambridge, Ontario, November 17, 2010
· "Ready for IFRS?" Benefits Canada Webinar, Toronto, January 20, 2010
· "Evolution of the Law of Pension and Benefits," The Canadian Institute of Actuaries, 2009 General Meeting, Ottawa, Ontario, November 19, 2009
· "How Will the Credit Crisis Impact on Pension Fund Investing?" (moderator), 2009 Pension Fund Invitational Forum, Northwind Professional Institute, Cambridge, Ontario, November 4, 2010
· "Managing Fiduciary Pension Plan Risk Exposure," The Canadian Institute's 12th Annual Conference on Directors, Officers and Fiduciary Liability, Toronto, October 21-22, 2009
· "Pension Plans in a Changing Economy: Managing the Legal Risks" (instructor), Osgoode Hall Law School CLE Program, Toronto, April 20-21, 2009
Media highlights
· "Ontario Pension Reform," CBA.org, June 3, 2010.
· "Balance Of Interests Debatable," Benefits and Pensions Monitor, May 18, 2010.
· "Pension Reform," Talk 1410AM Vancouver, October 28, 2009.
· "Pension Reforms To Protect Retirees," The Globe and Mail, October 27, 2009.
· "Supreme Court Decision Stirs Pension Debate," The Globe and Mail, August 7, 2009.
· "Canadian Firm Wins Pensions Case," Business Insurance, May 26, 2008.
· "Dollar At Reasonable Level, Flaherty Says," Ottawa Citizen, November 24, 2007.
· "Flaherty Says Dollar Has Eased To 'Reasonable Level'," Bloomberg, November 23, 2007.
· "Employers Who Sponsor Pension Plans Get Breathing Space," Law Times, November 12, 2007.
· "Bringing Malls To The Amazon," National Post, July 7, 2007.
Rankings and recognitions
· Best Lawyers in Canada, 2012 Employee Benefits Law
· PLC Which lawyer?, 2011 - Employee benefits and pensions
· Lexpert Canadian Legal Directory 2010 edition, repeatedly recommended (pensions and employee benefits)
Memberships and activities
· American Bar Association
- Tax Section, Foreign and International Subcommittee on Employee Benefits and Executive Compensation
· Lecturer, Ontario Bar Association, the Law Society of Upper Canada's continuing legal education program, Osgoode Hall Law School Certificate in Pension Law and the Canadian Institute of Actuaries
· Former Adjunct Professor, Pension Law, University of Western Ontario Law School
· Former instructor, corporate law, Ontario Bar Admission Course
Related Publications
Ontario Pension Reform
Pension plans in Canada are subject to provincial minimum standards legislation, with the exception of pension plans for the employees of undertakings that are under federal jurisdiction, such as banks and airlines, which are subject to federal minimum standards legislation.
19/05/2010
Ontario Pension Reform
On August 24, 2010, Ontario's Minister of Finance proposed a broad package of reforms intended to respond to more of the Ontario Expert Commission on Pensions' recommendations.
15/09/2010
Related News
Corporations gun-shy over pension liabilities
David Vincent talks to the National Post on how corporate restructurings can affect pension plans.
19/01/2011
More pension reform anticipated for Ontario
Changes to pension plans in Ontario could increase employer burden with more fees. David Vincent comments in Canadian HR Reporter.
23/09/2010
Ontario unveils major pension changes
David Vincent talks to the Canadian Press and the Globe and Mail about pension reform in Ontario, calling the changes conservative.
24/08/2010
Ontario moves toward pension reform
David Vincent describes in Canwest News how pension reform legislation introduced by the Ontario government is a balanced package.
10/12/2009
Letters of credit offer relief for pension plans
Letters of credit-a benefit for both pension plan sponsors and members-exist as a common banking instrument, but they are more difficult to get today, says David Vincent in Lawyers Weekly.
07/08/2009
Labour sounds alarm over Supreme Court pension loss
Defined benefit pension plans are too unpredictable and expensive for businesses to maintain while staying competitive, says David Vincent in the Canadian Press.
07/08/2009
Pension Reform Hits Home
David Vincent talks to Lexpert about the impact of the report of the Expert Commission on Pensions, released by the Ontario government last week.
26/11/2008
Ontario Must Make Pension Plans 'Attractive'
David Vincent comments on an expert panel's recommendations to the Ontario government to make company pension plans more appealing, in today's Globe and Mail.
21/11/2008
OSC Enters into Pension Debate
David Vincent talks to The Globe and Mail about the Ontario Securities Commission's request to have companies review their pension plans and provide detailed pension information to their boards of directors.
14/11/2008
Pension Rulings Swing to Employers' Favor
David Vincent, Co-Chair of our Pension and Benefit Plans team, was quoted in Business Insurance magazine talking about the recent trend of court rulings favouring the rights of employers in pension disputes.
02/06/2008
Centre Stage
David Vincent provides his expertise in pensions and benefit plans in this article about the Canadian human resources environment and its significance in cross-border transactions.
02/06/2008