The 2012 Ontario Budget (the
"Budget"), released on March 27,
contains several changes related to pension plans. This bulletin
addresses those recommendations specifically related to private
sector plans and that may be of interest to private sector
employers. The Budget also contains recommendations pertaining to
public sector pension plans, which are not discussed.
Continuing Pension Reforms
1. Regulations
Regulations are being drafted to implement many of the reforms
in the Pension Benefits Amendment Act, 2010 (Bill
236) and the Securing Pension Benefits Now and for the Future
Act, 2010 (Bill 120). The regulations, to be released in draft
this spring, will include:
- provisions specifying the rights and responsibilities of
"retired members";
