Proposed Amendments to Regulation 909 under the Pension Benefits Act - Portability Options for Retired Members
Bill or Act:
Pension Benefits Act
Summary of Proposal:
The Building Ontario Up for Everyone Act (Budget Measures), 2016 proposed amendments to the Pension Benefits Act to clarify that a retired member who has not yet elected to receive a pension has access to portability options, subject to the terms of the plan.
The proposed amendments to Regulation 909 (the General Regulation) would update references to portability to recognize retired members' access to them. If the proposed amendments were approved, the associated amendments to the Pension Benefits Act would be proclaimed.
January 9, 2017
Comments Due Date:
January 20, 2017
Pension Policy Branch
Portability Options for Retired Members
Ministry of Finance
5th Floor, Frost Building South
7 Queen's Park Crescent
Toronto ON M7A 1Y7