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ARTICLE · 16 DECEMBER 2009

Ontario Pension Reform Bill

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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On December 9, 2009, the Government of Ontario released Bill 236 (the Pension Reform Bill) amending the Ontario Pension Benefits Act (the PBA) by enacting some of the changes proposed in the Expert Commission on Pensions, A Fine Balance: Safe Pensions, Affordable Plans, Fair Rules (the Expert Commission Report), including dealing with the key issues of partial wind-ups, grow-in, asset transfers, plan splits and mergers, plan administration, information for plan members and Superintendent powers.

CanadaEmployment and HR

Copyright 2009, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Pension & Employee Benefits, December 2009

OVERVIEW

On December 9, 2009, the Government of Ontario released Bill 236 (http://www.ontla.on.ca/web/bills/bills_detail.do?locale=en&Intranet=&BillID=2261) (the Pension Reform Bill) amending the Ontario Pension Benefits Act (the PBA) by enacting some of the changes proposed in the Expert Commission on Pensions, A Fine Balance: Safe Pensions, Affordable Plans, Fair Rules (http://www.pensionreview.on.ca/english/report/) (the Expert Commission Report), including dealing with the key issues of partial wind-ups, grow-in, asset transfers, plan splits and mergers, plan administration, information for plan members and Superintendent powers. Changes to the funding rules and the long-term future of the Pension Benefits Guarantee Fund are expected to be contained in a second bill to be released in spring 2010.

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