Regulation - LGIC
Extension of the exemption from the "Solvency Concerns" Test for Certain Pension Plans
Regulation Number(s):
207/14
Instrument Type:
Regulation - LGIC
Bill or Act:
Pension Benefits Act
Summary of Decision:
This regulation extends the exemption that certain pension plans have from the "solvency concerns" test until December 31, 2017.
The exemption applies to jointly sponsored pension plans that are named in Regulation 909 and to specified Ontario multi-employer pension plans (SOMEPPs). These plans are not required to satisfy solvency funding requirements.
This extension allows further time for consultations with stakeholders regarding a new test to determine how often these plans will be required to file valuation reports.
The exemption applies to jointly sponsored pension plans that are named in Regulation 909 and to specified Ontario multi-employer pension plans (SOMEPPs). These plans are not required to satisfy solvency funding requirements.
This extension allows further time for consultations with stakeholders regarding a new test to determine how often these plans will be required to file valuation reports.
Further Information:
O.Reg 207/14
Proposal Number:
14-MOF025
Posting Date:
Summary of Proposal:
Contact Address:
Pension Policy Branch
Ministry of Finance
5th Floor, Frost Bldg S.
7 Queen's Park Crescent
Toronto, ON M7A 1Y7
Ministry of Finance
5th Floor, Frost Bldg S.
7 Queen's Park Crescent
Toronto, ON M7A 1Y7
Effective Date:
November 7, 2014
Decision:
Approved