Human Resources Legislative Update
Survivor Benefits Amendments Proclaimed in Force October 1, 2012
Date: September 10, 2012
On September 8, 2012, amendments to section 44 of the Pension Benefits Act were proclaimed in force effective October 1, 2012. Specifically, the amendments clarify (1) that survivor benefits can be reduced on the death of either spouse, and (2) that consent will be required in order to commute small survivor benefits where the member retired prior to July 1, 2012.
The amendments were outlined in sections 2(1), (2) and (4) to Schedule 44 of Bill 55, Strong Action for Ontario Act (Budget Measures), 2012.
For background information on these and other reform changes, please see our FTR Now of July 27, 2012, “Pension Reform Measures In Ontario Have Arrived.”