On May 20, 2011, the Ontario government filed amendments to the Pension Benefits Act Regulations (“Regulations”) that implement the first of many anticipated regulatory measures stemming from “Phase II” of Ontario’s pension reform initiative. The amendments outlined in O. Reg. 177/11 are in support of earlier amendments to the Pension Benefits Act made by Bill…
Tag: Jointly-sponsored Pension Plans (JSPPs)
Solvency Funding Relief Details for Broader Public Sector Released by Ontario Government
On February 10, 2011, the Ontario government released the Details of the Proposed Temporary Solvency Funding Relief for Certain Pension Plans in the Broader Public Sector (“BPS”) (the “Details”). The government previously announced that it would consider providing solvency funding relief for pension plans provided in respect of BPS employers in the university sector on…
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:…