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ARTICLE · 29 JANUARY 2020

Ontario Pensions: What's New?

Miller Thomson
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Welcome to the first post of 2020! In this post, we highlight some of the more significant legislative and regulatory pension developments in Ontario in January 2020 and late 2019.

CanadaEmployment and HR
Kim Ozubko
Kim Ozubko
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Welcome to the first post of 2020! In this post, we highlight some of the more significant legislative and regulatory pension developments in Ontario in January 2020 and late 2019.

Pension Benefits Act (Ontario)

Bill 132

As we reported in our November 7, 2019 post, in October, 2019, the Ontario government introduced Bill 132, Better for People, Smarter for Business Act, 2019 ("Bill 132"). In December 2019, Bill 132 received Royal Assent. Among the amendments to the Pension Benefits Act (Ontario) ("PBA") now in force as a result of Bill 132 are the following:

Former and Retired Member Biennial Statements: Under the PBA, a plan administrator is required to provide biennial statements to former and retired members. The CEO of FSRA (formerly the Superintendent of Financial Services) may now waive this requirement if he is satisfied that the administrator is unable to locate the former or retired member after making reasonable efforts to do so. The factors that

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