The Ontario government is consulting on a revised proposal for amending the Pension Benefits Act(PBA) regulations with respect to Pension Advisory Committees (PACs). The consultation is open only until September 12, 2016…
Tag: Pension Benefits Act
Review of Ontario’s Solvency Funding Framework for Defined Benefit Pension Plans Sets Out Potential Options For Change
As described in our FTR Now of July 26, 2016, Marshall Consultation Paper on Ontario Pension Solvency Funding Framework Released, the Ontario government is undertaking a review of the current solvency funding framework (the Marshall Review) under the Ontario Pension Benefits Act (PBA)…
Third Round of Ontario Temporary Solvency Funding Relief for DB Pension Plans is Now in Force July 1, 2016
Following the release last month of draft Regulations, the Ontario government has now adopted amendments…
Finalized Regulations Extend Temporary Solvency Funding Relief in Ontario
Effective July 1, 2016, amendments to Regulation 909 first proposed on…
Countdown to ORPP: Ontario Tables New Implementation Legislation
Long-awaited Ontario Retirement Pension Plan (ORPP) legislation was introduced on Thursday, April 14, 2016, which, if passed in its present form, will provide the statutory framework and timeline for full ORPP implementation by January 1, 2020…
Ontario Proposes Elimination of the “30% Rule” for Pension Investment
Further to announcements made in its 2015 Economic Outlook and Fiscal Review, the Ontario government is soliciting feedback on proposed regulatory reforms that would eliminate the current investment rule that prohibits plan administrators from making investments that result in pension funds owning more than 30% of the voting shares of a corporation. The so-called “30% rule”…
2016 Ontario Budget and Budget Bill Released
On February 25, 2016, the Ontario government tabled its 2016 Budget “Jobs for Today and Tomorrow” (“Budget”) and the corresponding Budget Bill, Bill 173, Jobs for Today and Tomorrow Act (Budget Measures), 2016 (“Bill 173”), supporting omnibus legislation designed to implement some of the proposals contained in the Budget. Our FTR Now of February 29, 2016, “Ontario Budget 2016”…
Ontario Filing Requirements for Statements of Investment Policies and Procedures and Form 14
Recent amendments to Ontario’s Pension Benefits Act regulations now require that administrators of Ontario registered pension plans file Statements of Investment Policies and Procedures (“SIPPs”) with the Financial Services Commission of Ontario (“FSCO”), together with a detailed information summary form (“Form 14”). We discuss these new filing requirements and supporting FSCO resources in this FTR…
ACPM Spring Session
Topic The ABC’s of ESG: Environmental, Social and Governance Factors in Pension Plan Investing Agenda
New Mortality Tables in Effect for Ontario Commuted Value Calculations
On December 10, 2015, the Ontario government amended the Regulations under the Pension Benefits Act (“PBA”) to require pension plans to use the new mortality tables when calculating commuted values (“CVs”) for Ontario members. The use of the new mortality assumptions, which are found under section 3500 of the Actuarial Standards Board Standards of Practice…