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ARTICLE · 02 OCTOBER 2017

Private Pension Plans

Borden Ladner Gervais LLP
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Private pension plans are governed by the Supplemental Pension Plans Act ("Pension Act") which establishes rules for the establishment, operation and administration of pension plans...

CanadaEmployment and HR
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
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Private pension plans are governed by the Supplemental Pension Plans Act ("Pension Act") which establishes rules for the establishment, operation and administration of pension plans, prescribes a set of basic rights granted to plan members and provides for measures of control and supervision of pension plans.

Private pension plans must be administered by a pension committee, which must include plan members or representatives of plan members and an independent third party who is not a plan member.

Where member contributions are required under a defined benefit plan, the employer is required to pay at least 50% of the value of any pension benefit to which the member or beneficiary will eventually be entitled.

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