Tag: bill 236

Proposed changes for Ontario Pension Plans – Bill 236

The Pension Benefits Amendment Act, 2009(Bill 236) which received first reading in the Legislative Assembly of Ontario on December 9, 2009 proposes a number of changes that will affect both plan sponsors and plan members of pension plans. The proposed changes include: •Immediate vesting upon joining plan •Elimination of partial plan windups •Increase in...

Proposed Pension Reforms in Ontario

On December 9, 2009, the Government of Ontario tabled legislation proposing changes to the provincial system governing private pensions. Bill 236 stems from recommendations of the 2008 Ontario Expert Commission on Pensions. The reforms in the Bill include: •Clarifying the benefits of plan members affect by lay-offs and eliminating partial wind-ups •...