Deadline Extended for Alberta Pension Reform Plan Amendments
Date: November 26, 2014
As discussed in our recent FTR Now, Alberta Introduces Significant Pension Reforms Effective September 1, 2014, the new Employment Pension Plans Act and accompanying Employment Pension Plans Regulation came into force on September 1, 2014. Pension plans registered in Alberta and plans registered elsewhere with members whose pension benefits are subject to Alberta pension legislation must be amended to reflect these significant changes.
Originally, the deadline for filing these amendments with the Alberta pension regulator for plans registered in Alberta was December 31, 2014. As we first reported on our Human Resources Legislative Update blog, the Alberta Superintendent of Pensions has since announced that a plan sponsor can request and receive an extension of the deadline to March 31, 2015.
Like the Alberta government, the Financial Services Commission of Ontario has extended the filing deadline to March 31, 2015 for pension plans registered in Ontario with members employed in Alberta. However, the extension is automatic and does not need to be requested.
Please contact any member of our Pension, Benefits & Executive Compensation Group if you would like more information about the amendments triggered by the reforms in Alberta. For the latest legislative and regulatory developments, please subscribe to Hicks Morley’s Human Resources Legislative Update blog.
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