Proposed Amendment to Regulation 909 of the Pension Benefits Act - Pension Advisory Committees
Bill or Act:
Pension Benefits Act
Summary of Proposal:
The proposed amendment would implement section 24 of the PBA, as amended by Bill 236, the Pension Benefits Amendment Act, 2010, facilitating the creation of advisory committees that allow members and pensioners to monitor their pension plans.
The proposed amendment would require a plan administrator, on receiving notice, to assist in holding the vote to establish an advisory committee and to assist with the operation of the committee once it is established.
The proposed amendment would be consistent with principles of good governance and respond to concerns raised by members and pensioners about effective access to plan information.
August 25, 2015
Comments Due Date:
October 13, 2015
Pension Policy Branch
Ministry of Finance
5th Floor, Frost Building South
7 Queen's Park Crescent
Toronto ON M7A 1Y7