Proposal

Proposed Amendment to Regulation 909 of the Pension Benefits Act - Statements for Former and Retired Members

Regulation Number(s):
N/A
Bill or Act:
Pension Benefits Act
Summary of Proposal:
Bill 236, the Pension Benefits Amendment Act, amended the Pension Benefits Act to require plan administrators to provide written statements to former members and retired members, containing prescribed information about the pension plan and their pension benefits and any ancillary benefits. Plan administrators currently provide annual statements to active members that contain prescribed information content. The 2013 Ontario Budget included a commitment to prescribe the rules for former member and retired member statements. This posting proposes the required content and frequency for providing these statements.
Further Information:
Proposal Number:
14-MOF012
Posting Date:
April 25, 2014
Comments Due Date:
June 16, 2014
Contact Address:
Pension Policy Branch
Ministry of Finance
Statements under subsection 27(2)
5th Floor, Frost Building South
7 Queen's Park Crescent
Toronto ON M7A 1Y7