Alberta Introduces New Pension Legislation

Almost four years after the Joint Expert Panel on Pension Standards (JEPPS) submitted its final report with recommendations to fundamentally reform Alberta and British Columbia's pension systems, the Alberta government has introduced Bill 10, Employment Pension Plans Act.

Similar to B.C.'s Bill 38, which was passed earlier this year, Bill 10, if passed, will replace Alberta's current Employment Pension Plans Act (EPPA) in its entirety. In addition, as the Alberta government's press release indicates, Bill 10 includes "[h]armonized pension rules between Alberta and British Columbia, making it easier for pension plans to both start up and operate effectively for their members."

Some of the proposed changes to the EPPA follow the pension reform initiatives that have already been introduced in other jurisdictions, including in Ontario and the federal jurisdiction. For example, there are amendments to enhance plan member disclosure requirements and to require immediate