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ARTICLE · 06 APRIL 2010

Pension Issues in 2010 Ontario Budget

Blake, Cassels & Graydon LLP
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The Budget summarized some of the previously announced pension changes, including Bill 236, which was introduced on December 9, 2009, and the temporary funding relief.

CanadaEmployment and HR
Pension & Employee Benefits Group
Pension & Employee Benefits Group
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Copyright 2010, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Pension & Employee Benefits, March 2010

I. TRANSFORMING THE PENSION SYSTEM

The Budget summarized some of the previously announced pension changes, including Bill 236, which was introduced on December 9, 2009, and the temporary funding relief.

The Budget noted that in 2010: (i) the government will also consult on regulations related to Bill 133, the Family Statute Law Amendment Act, 2009, which introduced new rules for the division of pensions on marriage breakdown; and (ii) to improve the regulation and administration of multi-jurisdictional pension plans, legislative amendments will be introduced that would enable Ontario to become a signatory to a multilateral agreement, joining Quebec and Alberta as jurisdictions with the legislative authority to enter into the proposed agreement.

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