Human Resources Legislative Update
Ontario Files Significant Regulations under the Pension Benefits Act
Date: June 27, 2012
On June 26, 2012, the Ontario government filed a number of amendments to regulations made under the Pension Benefits Act (“PBA”). Specifically, the government filed the much anticipated O. Reg. 178/12 amending General Regulation 909 to support numerous pension reforms.
As reported in prior posts and our FTR Now of May 9, 2012, “Implementation of Key Pension Reforms is Imminent,” these amendments to the General Regulation support, among other changes, the new immediate vesting and locking in provisions of the PBA, as well as the new enhanced grow-in rights and additional prescribed disclosure requirements.
