Tag: Act s. 81.0.1
Ontario Bill 132, Better for People, Smarter for Business Act, 2019 and Bill 138, Plan to Build Ontario Together Act, 2019, received Royal Assent on December 10, 2019 . . .
Further to my earlier post on the new defined benefit plan funding regulations, the Ontario government published its official proclamation of the corresponding amendments to the Ontario Pension Benefits Act (PBA), which along with the regulations make up Ontario's new funding framework.
Effective November 1, 2015, the Ontario government filed Regulations 311/15 and 312/15 and proclaimed into force amendments to the Pension Benefits Act (PBA) permitting a broader public sector employer-sponsored single employer pension plan (SEPP) to either transfer or merge into a new or an existing jointly sponsored pension plan (JSPP) (s. 80.4), or convert to a JSPP through plan amendments (s. 81.0.1), if specified conditions are met.