Human Resources Legislative Update

Ontario Proposes Plan Administrator Disclosure Obligations, Proclamation Dates

Human Resources Legislative Update

Ontario Proposes Plan Administrator Disclosure Obligations, Proclamation Dates

Date: May 14, 2012

On May 14, 2012, the Ontario government published additional draft amendments to General regulation 909 under the Pension Benefits Act (“Act”), and further proposed a proclamation date of July 1, 2012 in respect of certain amendments to the Act.

The regulatory amendments would specifically outline the information plan administrators are required to disclose, including:

  • “prescribed records” for the purposes of subsection 29(5) of the Act (relating to requests for the most recent plan documents to be mailed or sent by electronic means);
  • prescribed documents that “specified persons” are entitled to inspect at the office of the Superintendent of Financial Services for the purposes of paragraph 2 of subsection 30(1) of the Act; and
  • investment information summary filing obligations of plan administrators, where the plan provides defined benefits.