June 1, 2011 has been named as the day on which subsections 1 (9) and 3 (3) and section 16 of Bill 120, the Securing Pension Benefits Now and for the Future Act, 2010, come into force. These provisions relate to the recently reported filing of O. Reg. 177/11, and specifically, the change affecting jointly-sponsored…
Tag: Bill 120 – Phase II Pension Reform
Ontario Files New JSPP and Phase II Funding Pension Regulations, BPS Solvency Funding Relief Regulations
On May 20, 2011, the Ontario government filed two new regulations under the Pension Benefits Act. O. Reg. 177/11 contains several amendments to the Pension Benefits Act General Regulation 909 (“Regulations”) relating to measures first introduced by the government when it tabled Bill 120, Securing Pension Benefits Now and for the Future Act, 2010, which…
Ontario’s Phase II Pension Reform Bill Receives Royal Assent
On December 8, 2010, Bill 120, the Securing Pension Benefits Now and for the Future Act, 2010, received Royal Assent. As previously reported, the Bill passed at Third Reading on December 7, 2010 after being amended by the Standing Committee on Finance and Economic Affairs under an accelerated schedule for consideration and debate.
Ontario Passes Pension Reform Bill
On Tuesday, December 7, 2010, the Ontario government passed Bill 120, the Securing Pension Benefits Now and for the Future Act, 2010. As previously reported, Bill 120 was amended by the Standing Committee on Finance and Economic Affairs and ordered for Third Reading on December 1, 2010 under an accelerated schedule for consideration and debate….
Pension Reform Bill Ordered for Third Reading Under Accelerated Schedule
In accordance with the terms of a special time allocation motion that was passed on November 3, 2010, Bill 120, the Securing Pension Benefits Now and for the Future Act, 2010, was reported to the House as amended by the Standing Committee on Finance and Economic Affairs and ordered for Third Reading on December 1,…
Pension Reform Bill Referred to Committee Under Accelerated Schedule for Consideration and Debate
On November 3, 2010, the Ontario government passed a special time allocation motion setting out an accelerated timetable for the full consideration and debate of Bill 120, the Securing Pension Benefits Now and for the Future Act, 2010, by December 2, 2010.
Ontario Introduces Further Pension Reforms
On October 19, 2010, the Ontario government introduced Bill 120, the Securing Pension Benefits Now and for the Future Act, 2010. As previously reported, these pension reforms are intended to build on the first phase of reforms, which were passed earlier this year. The government has announced that the Bill 120 reforms would, if passed:…