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ARTICLE · 09 JANUARY 2019

A Look Ahead At Pension Legislative Changes For 2019

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While 2018 ushered in a number of significant changes to Ontario's pension legislation, including a major revamping of the funding rules for defined benefit plans ...

CanadaEmployment and HR
Susan Seller
Susan Seller
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While 2018 ushered in a number of significant changes to Ontario's pension legislation, including a major revamping of the funding rules for defined benefit plans, additional pending changes are afoot for 2019. 

Other provinces, such as British Columbia, Manitoba and Nova Scotia, are also reviewing solvency funding requirements for plans registered in their respective jurisdictions. Broadly speaking, the proposals under review in those provinces include modifying the current solvency funding rules (such as lengthening the amortization period for a solvency deficit) or eliminating solvency funding and replacing it with enhanced going-concern funding (similar to the changes adopted in Ontario in 2018 and Quebec in 2016).

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