This page provides links to consultation papers and proposed legislation primarily related to the regulation of Ontario pension plans under the Pension Benefits Act and related legislation. Links to the consultation papers and proposed legislation of other jurisdictions are provided for your convenience.
| In addition to the consultation papers and proposed legislation noted here, a number of FSCO consultation papers, along with information on making submissions, are provided on the website. All stakeholders are encouraged to review these documents and submit their comments. The latest FSCO consultation was posted on January 11, 2010. |
British Columbia Consultation - Ways to strengthen the pension system and expand pension coverage
On February 2, 2010, the British Columbia government released an online consultation to seek public input on ways to strengthen the pension system and expand pension coverage. The deadline for submission is April 1, 2010.
CAPSA Consultation Update– Prudence Standard in Pension Plan Funding and Investment
The comment period for the consultation paper The Prudence Standard and the Roles of the Plan Sponsor and Plan Administrator in Pension Plan Funding and Investment has been extended to April 30, 2010 to provide stakeholders with more opportunity to participate in the consultation process. The consultation paper is available for download or printing on the CAPSA website (www.capsa-acor.org).
Changes to the Pension Benefits Act, R.S.O. 1990
On December 9, 2009, Bill 236 - Pension Benefits Amendment Act, 2009 passed first reading. The Bill amends the Pension Benefits Act in connection with several matters, including: benefits for members and others who are entitled to payments out of pension plans; asset transfers between pension plans; partial wind ups of pension plans; surplus-sharing agreements; the administration of pension plans; the powers of the Superintendent; and certain terminology used in the Act. Further information is available from the Ministry of Finance.
CAPSA Consultation – Prudence Standard in Pension Plan Funding and Investment
The Canadian Association of Pension Supervisory Authorities (CAPSA) released a consultation paper The Prudence Standard and the Roles of the Plan Sponsor and Plan Administrator in Pension Plan Funding and Investment on November 30, 2009.
CAPSA is interested in receiving feedback on the paper, and has included specific questions in the paper to guide comments. The deadline for submissions has been extended to April 30, 2010. The consultation paper is available for download or printing on the CAPSA website (www.capsa-acor.org).
Federal Pension Proposals Released
On October 27, 2009, the federal government released pension reform proposals aimed at improving the federal private pension legislative and regulatory framework. Other technical amendments are also proposed.
Manitoba releases Proposed Pension Regulations
Manitoba has released proposed amendments to the regulations that result from 2005 changes to its Pension Benefits Act. Comments on the proposed regulations may be submitted until August 15, 2009.
Call for Retirement Summit
An August 6, 2009 news release includes a call from the premiers for a national summit on retirement income.
Ontario Budget 2009 Delivered
On March 26, 2009, the Ontario budget was delivered. The budget proposes changes to Ontario's tax and pension systems.
Nova Scotia Pension Review Panel releases Final Report
On January 27, 2009, the Nova Scotia Pension Review Panel released its final report.
Law Commission of Ontario's final report on division of pensions upon marriage breakdown
The Law Commission of Ontario has released its final report on the division of pensions upon marriage breakdown.
Consultation on Pension Plans Regulated by the Office of the Superintendent of Financial Institutions (OSFI)
January 9, 2009 - The Financial Division of the Department of Finance has released a discussion paper - Strengthening the Legislative and Regulatory Framework for Private Pension Plans Subject to the Pension Benefits Standards Act, 1985 (PBSA).
The consultation includes, in part, a request for comments on ways to improve the regulatory framework governing pension investment. Ontario has, by reference in the Pension Benefits Act (PBA), adopted the federal investment rules, and this portion of the consultation may be of special interest to pension plans which are subject to the PBA. Comments are to be provided by interested parties by March 16, 2009.
