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ARTICLE · 14 MAY 2012

Draft Regulations To Implement Ontario Pension Reform Changes

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The Ontario government has recently released draft regulations and proposed contents of draft regulations to implement Ontario pension reform changes.

CanadaEmployment and HR
Sonia Mak
Sonia Mak
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As announced in the 2012 provincial budget, the Ontario government has recently released draft regulations and an outline of the proposed contents of regulations to implement different pension reform changes.

The government has released a draft regulation to implement immediate vesting and the "retired member" provisions. The draft regulation also (among other things) clarifies surplus payment rules, increases the threshold for small pension payouts, reflects changes to the federal tax rules regarding individual pension plans and introduces certain house-cleaning amendments (such as clarification changes to the provisions regarding the crediting of interest). The draft regulation can be found here.

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