Tag: Act s. 31
Effective April 16, 2020, Saskatchewan amended The Pension Benefits Regulations, 1993 to require administrators to obtain prior written consent from the Superintendent to transfer monies or make payments out of defined benefit plans if, in the Superintendent’s opinion, the transfer or payment would impair the solvency of the pension fund . . .
Manitoba introduced Bill 8, The Pension Benefits Amendment Act, for first reading on November 27, 2019. Bill 8 includes amendments to the Manitoba Pension Benefits Act . . .
The Saskatchewan Financial Consumer Affairs Authority published a bulletin regarding the potential options for unlocking pensions . . .
Nova Scotia (Finance and Treasury Board) (Re), 2018 NSOIPC 4 – Privacy Commissioner Orders Disclosure of Information Collected in AIRs
The Nova Scotia Department of Finance and Treasury Board (the Department) regulates Nova Scotia pension plans and, as a part of that, receives annual information returns (AIR) from all such plans. The applicant filed an access to information request with the Department seeking a list of all registered pension plans and for each plan:
- the name of the plan;
- whether it is a defined benefit or defined contribution plan;
- the name and contact information for the plan administrator;
- the number of active members; and
- the market value of the plan at year’s end.
The Canadian Association of Pension Supervisory Authorities has published a checklist outlining the information that should be provided to the pension regulator when contributions have not been remitted in accordance with applicable pension standards legislation. Attached to the checklist are tables summarizing the requirements by jurisdiction with respect to: (i) notice requirements regarding late or irregular contributions; and (ii) contribution remittance timeframes.
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