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ARTICLE · 10 NOVEMBER 2020

Bill 68 Launches Target Benefits Pension Plans In Québec

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On October 7, Québec's Minister of Finance, tabled Bill 68 (Bill): An Act mainly to allow the establishment of target benefit pension plans to amend the Supplemental Pension Plans Act,

CanadaEmployment and HR
Mitch Frazer
Mitch Frazer
Thomas Stevenson
Thomas Stevenson
Cristelle Sary
Cristelle Sary
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On October 7, Québec's Minister of Finance, tabled Bill 68 (Bill): An Act mainly to allow the establishment of target benefit pension plans to amend the Supplemental Pension Plans Act, thereby enabling the creation of target benefit pension plans (TBPPs) in Québec. The long-awaited Bill is a right of a recommendation from the expert panel report: Innovating for a Sustainable Retirement System chaired by Alban d'Amours, published in 2013. Retraite Québec consulted with employer and union representatives to help define certain aspects of TBPPs, particularly in terms of funding. Currently, the only businesses permitted to establish a TBPP in Québec are those in the pulp and paper sector that are under financial distress.

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