On April 8, 2019
, Bill C-97, An Act to implement certain provisions of the
budget tabled in Parliament on March 19, 2019 and other
measures, was tabled in the House of Commons. As the title
implies, it provides for the legislative underpinning for many of
the proposals announced in the budget tabled in March, including
changes to the Pension Benefits Standards Act, 1985
“PBSA” .
Bill C-97 proposes two changes to the PBSA: (i) it resurrects
the so-called “discharge” for annuity purchases that
was previously provided for in Bill C-27, and (ii) it includes a
new section 17.1 of the PBSA that prohibits a pension plan from
providing that benefits, and members’ entitlement to
benefits, be affected by the termination of the plan.
