Legislative Changes July 1, 2012

 

On June 21, 2012, proclamations issued under orders of the Lieutenant Governor in Council proclaimed a number of sections of the Securing Pension Benefits Now and for the Future Act, 2010 (Bill 120), Pension Benefits Amendment Act, 2010 (Bill 236 [PDF Document] Size: 1875 kb), Better Tomorrow for Ontario Act (Budget Measures), 2011 (Bill 173 [PDF Document] Size: 1975 kb) and Creating the Foundation for Jobs and Growth Act, 2010 (Bill 16 [PDF Document] Size: 6546 kb) to be in force on July 1, 2012.  This supports the Ontario Government’s commitment to modernize and strengthen the Pension Benefits Act (PBA). 

 

The proclaimed sections of each Bill are provided in the following:

 

On June 26, 2012 the following regulations were filed: 
 
  1. Ontario Regulation 178/12 made under the PBA and amending Regulation 909, R.R.O. 1990 (General). Certain provisions related to Qualifying Pension Plans come into force on September 1, 2014.  All other provisions come into force July 1, 2012.
  2. Ontario Regulation 179/12 made under the PBA amending Ontario Regulation 178/11 (Solvency Funding Relief for Certain Public Sector Pension Plans) comes into force on July 1, 2012.

  3. Ontario Regulation 180/12 made under the PBA amending Ontario Regulation 196/11 (Abibow Canada Inc. Pension Plans) comes into force on July 1, 2012.

  4. Ontario Regulation 181/12 made under the PBA amending Ontario Regulation 321/09 (General Motors Pension Plans) comes into force on July 1, 2012.

  5. Ontario Regulation 182/12 made under the PBA amending Ontario Regulation 99/06 (Stelco Inc. Pension Plans) comes into force on July 1, 2012.

  6. Ontario Regulation 183/12 made under the Financial Services Commission of Ontario Act, 1997 and amending Ontario Regulation 11/01 (Assessment of Expenses & Expenditures) comes into force on July 1, 2012.

 
Additional information about some of the changes taking effect July 1, 2012 is provided in the following links.
 

  

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