This page provides links to consultation papers and proposed legislation related to the regulation of Ontario pension plans under the Pension Benefits Act and related legislation.
Federal Pension Proposals Released
On October 27, 2009, the federal government released pension reform proposals aimed at improving the federal private pension legislative and regulatory framework. Other technical amendments are also proposed.
Manitoba releases Proposed Pension Regulations
Manitoba has released proposed amendments to the regulations that result from 2005 changes to its Pension Benefits Act. Comments on the proposed regulations may be submitted until August 15, 2009.
Call for Retirement Summit
An August 6, 2009 news release includes a call from the premiers for a national summit on retirement income.
Ontario Budget 2009 Delivered
On March 26, 2009, the Ontario budget was delivered. The budget proposes changes to Ontario's tax and pension systems.
Nova Scotia Pension Review Panel releases Final Report
On January 27, 2009, the Nova Scotia Pension Review Panel released its final report.
Law Commission of Ontario's final report on division of pensions upon marriage breakdown
The Law Commission of Ontario has released its final report on the division of pensions upon marriage breakdown.
Consultation on Pension Plans Regulated by the Office of the Superintendent of Financial Institutions (OSFI)
January 9, 2009 - The Financial Division of the Department of Finance has released a discussion paper - Strengthening the Legislative and Regulatory Framework for Private Pension Plans Subject to the Pension Benefits Standards Act, 1985 (PBSA).
The consultation includes, in part, a request for comments on ways to improve the regulatory framework governing pension investment. Ontario has, by reference in the Pension Benefits Act (PBA), adopted the federal investment rules, and this portion of the consultation may be of special interest to pension plans which are subject to the PBA. Comments are to be provided by interested parties by March 16, 2009.
Ontario Solvency Funding Relief
December 16, 2008 - The Ontario government is proposing to introduce legislation this spring to provide pension plans with temporary solvency funding relief.
Consultation on Locked-In Accounts
December 1, 2008 - Ontario Ministry of Finance initiates consultation on regulatory changes for locked-in accounts.
Alberta and British Columbia release report of Joint Expert Panel on Pension Standards
November 28, 2008 - The Alberta and British Columbia governments have released the report of the Joint Expert Panel on Pension Standards.
Family Law Reforms and Pensions
On November 24, 2008, Bill 133 - Family Statute Law Amendment Act passed first reading. Bill 133 includes provisions concerning the division of pensions on marriage breakdown.
Expert commission on pensions delivers final report
On November 20, 2008, the Ontario government announced receipt of A Fine Balance: Safe Pensions, Affordable Plans, Fair Rules, the final report from the Expert Commission on Pensions.
The province is seeking feedback on the report from Ontarians, with a written comment period ending February 27, 2009.
CAPSA Releases Report on Regulatory Principles for a Model Law
On October 31, 2008, CAPSA released the final report on its work on Regulatory Principles for a Model Pension Law. The report is available for download or printing on the CAPSA website (www.capsa-acor.org).
CAPSA In-Person Consultation in Ontario
The CAPSA Secretariat has confirmed the dates for the in-person consultation sessions across Canada. The Ontario consultation is scheduled for Monday December 1, 2008. Further details and registration information are available on the CAPSA website, or from Daniel Padro by calling 416-590-7034.
CAPSA Consultation - Multi-Jurisdictional Pension Plans
The Canadian Association of Pension Supervisory Authorities (CAPSA) released a proposed Agreement Respecting Multi-Jurisdictional Pension Plans on October 21, 2008.
CAPSA is interested in receiving feedback on the proposed Agreement, in particular on its practical application. The deadline for submissions is January 30, 2009. The consultation paper is available for download or printing on the CAPSA website (www.capsa-acor.org).
Nova Scotia Pension Review Panel releases Interim Position Paper
On October 17, 2008, the Nova Scotia Pension Review Panel released an Interim Position Paper providing tentative answers to the questions posed in their Discussion Paper, and seeking further comments from interested stakeholders.
Financial Services Commission of Ontario