Human Resources Legislative Update
Regulation Filed on Asset Transfers under Section 80.1 of Pension Benefits Act
Date: July 2, 2015
On June 18, 2015, O. Reg. 147/15 amending O. Reg. 308/13 (Assets Transfers under section 80.1 of the Act) made under the Pension Benefits Act (“PBA”) came into force.
O. Reg. 147/15 amends the date of the effective transfer of assets under section 80.1 from June 30, 2015 to a date not later than the date that section is repealed. The date that plan administrators must file cost actuarial certificates with the Superintendent after such a transfer has been extended from June 30, 2015 to no later than the date on which section 80.1 of the PBA is repealed.