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ARTICLE · 20 AUGUST 2014

Alberta’s New Target Benefit Regime

Osler, Hoskin & Harcourt LLP
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Alberta is moving forward with sweeping pension reforms in the new Employment Pension Plans Act and regulations, which come into effect on September 1, 2014.

CanadaEmployment and HR
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
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Alberta is moving forward with sweeping pension reforms in the new Employment Pension Plans Act (EPPA) and regulations, which come into effect on September 1, 2014. Alberta's new approach of providing comprehensive and specific rules for various types of pension plan designs is a welcome change from the "one size fits all model" employed in many other Canadian jurisdictions.

Although this article focuses on target benefits, there are numerous other changes in the new EPPA. If you sponsor a pension plan with members in the province of Alberta, a compliance review is in order to ensure that the new requirements are met.

New Design Option

Among the many changes in the new EPPA, is the introduction of a comprehensive target benefit plan (TBP) regime. Alberta is the second jurisdiction, after New Brunswick, to implement comprehensive TBP rules as a design option for plans registered in the province.

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