Regulation - LGIC
Algoma Steel Inc. Pension Plans
Regulation Number(s):
7/13
Instrument Type:
Regulation - LGIC
Bill or Act:
Pension Benefits Act
Summary of Decision:
The approved Regulation amends Regulation 202/02 under the Pension Benefits Act (PBA) to allow Essar Steel Algoma to defer, with interest, all special payments (related to both the solvency and going concern deficits) owing to its pension plans for the period of December 1, 2012 to November 30, 2013 for one year after the scheduled payment date. The Regulation also includes some technical amendments to update the names of the sponsor company and its pension plans.
Further Information:
Regulation 7/13 under the Pension Benefits Act
Proposal Number:
13-MOF009
Posting Date:
Summary of Proposal:
The approved Regulation amends Regulation 202/02 under the Pension Benefits Act (PBA) to allow Essar Steel Algoma to defer, with interest, all special payments (related to both the solvency and going concern deficits) owing to its pension plans for the period of December 1, 2012 to November 30, 2013 for one year after the scheduled payment date. The Regulation also includes some technical amendments to update the names of the sponsor company and its pension plans.
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Contact Address:
Pension Benefits Standards Policy
Pension, Income Security and Research Division
Ministry of Finance
5th Floor, Frost Building South
7 Queen's Park Crescent
Toronto ON M7A 1Y7
Pension, Income Security and Research Division
Ministry of Finance
5th Floor, Frost Building South
7 Queen's Park Crescent
Toronto ON M7A 1Y7
Effective Date:
January 11, 2013
Decision:
Approved