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ARTICLE · 13 JANUARY 2009

Pensions @ Gowlings - January 12, 2009

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On January 9, 2009, the federal Minister of Finance, the Honourable Jim Flaherty, released a discussion paper on improving the framework for federally regulated private pension plans.

CanadaEmployment and HR
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Edited by Daniel Hayhurst

Contents

  • More News About Pension Reform
  • Other Issues Arising Out of Economic Conditions
  • Montreal Trust case

More News About Pension Reform

On January 9, 2009, the federal Minister of Finance, the Honourable Jim Flaherty, released a discussion paper on improving the framework for federally regulated private pension plans. This discussion paper follows an announcement in November that the federal government would provide temporary solvency relief (i.e. extend the payment period from 5 to 10 years) to federally regulated pension plans that have been affected by substantial declines in the equity markets. Similar relief has recently been proposed by other governments including Ontario, Alberta, and Quebec. The federal announcement also closely follows recent reform discussions in Ontario, Alberta, and Nova Scotia.

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