Limitations Act, 2002

On January 1, 2004, the Limitations Act, 2002 came into force in Ontario. This statute governs the limitation periods applicable to claims governed by the law of Ontario. The new statute makes significant changes to limitation periods generally. These changes will have a significant impact on claims related to pension matters. The previous Limitations Act in Ontario had a series of provisions imposing specific limitation periods for specific causes of action. For example, under the old statute, a six-year limitation period applied to claims for breach of contract or negligence. Also under the old regime, where a specific cause of action was not referenced in the statute, no limitation applied. It was on this basis that the courts had determined that there was no limitation period in Ontario for claims for breach of fiduciary duty.