This page contains legislative and regulatory changes related to Ontario pension plans under the Pension Benefits Act and related legislation.

2020

Regulation 521/20 made under the Pension Benefits Act

O.Reg. 521/20 was filed on September 21, 2020 and amends Schedule 1 of O.Reg. 365/17.  This amendment adds items which are subject to administrative penalties.  These changes are in effect September 21, 2020. 

Regulation 520/20 made under the Pension Benefits Act

O.Reg. 520/20 was filed on September 21, 2020 and amends Regulation 909. The amendment allows certain pension plans to defer pension contributions beginning October 1, 2020.  These changes are in effect September 21, 2020.

Regulation 290/20 made under the Pension Benefits Act

O.Reg. 290/20 was filed on June 19, 2020 and amends Regulation 909. The amendment relates to the 2020 Agreement Respecting Multi-Jurisdictional Pension Plans coming into effect.  These changes are in effect July 1, 2020. 

Regulation 289/20 made under the Pension Benefits Act

O.Reg. 289/20 was filed on June 18, 2020 and amends O.Reg. 287/11. The amendment relates to the CANSIM series used for calculating lump sum arrears under the family law pension division requirements.  These changes are in effect on July 1, 2020.

Regulation 288/20 made under the Pension Benefits Act

O.Reg. 288/20 was filed on June 18, 2020 and amends O.Reg. 310/13. The amendment relates to extensions of deadlines under the asset transfer requirements.  These changes are in effect on filing or on July 1, 2020.

Regulation 287/20 made under the Pension Benefits Act

O.Reg. 287/20 was filed on June 18, 2020 and amends Regulation 909. The amendment relates to extensions of deadlines for filings and other documents required to be issued by pension plans, as well as the CANSIM series used to calculate certain kinds of interest.  These changes are in effect on filing or on July 1, 2020.

Regulations 285/20 and 286/20 made under the Pension Benefits Act

O. Reg. 285/20 and O. Reg. 286/20 were filed on June 17, 2020 and amend Regulation 909 and Regulation 178/11 respectively. The amendments relate to the Workplace Safety and Insurance Board Employees’ Pension Plan and amongst other things, permits the WSIB pension plan to specify a solvency deficiency amount that is in accordance with section 1.3.1(3) of Regulation 909. The changes are in effect July 1, 2020. 

Regulation 231/20 made under the Pension Benefits Act

O.Reg. 231/20 was filed on May 29, 2020 and amends Regulation 909. The amendment makes the pension plans set out in the amendment subject to section 55.2 of the Pension Benefits Act. The changes are in effect May 29, 2020. 

Regulation 187/20 made under the Pension Benefits Act

O.Reg. 187/20 was filed on April 30, 2020 and amends Regulation 909. The amendments relate to late payments of Pension Benefits Guarantee Fund assessments made before December 31, 2020. These changes are in effect April 30, 2020. The sections granting this relief are revoked effective January 1, 2021.

Regulation 32/20 made under the Pension Benefits Act

O.Reg. 32/20 was filed on February 28, 2020 and amends Regulation 909. The amendments relate to certain university pension plans and the use of the term “Superintendent” in federal investment regulations.  These changes are in effect February 28, 2020.  

2019

Regulation 420/19 made under the Pension Benefits Act

O.Reg. 420/19 was filed on December 11, 2019 and amends Regulation 909. The amendments relate to the Canadian Institute of Actuaries’ Standards of Practice, the Handbook of the Chartered Professional Accountants of Canada, as well as increasing the threshold of assets triggering the filing of an auditor’s report. These changes are in effect December 11, 2019.

Regulation 421/19 made under the Pension Benefits Act

O.Reg. 421/19 was filed on December 11, 2019 and amends O.Reg. 287/11. The amendments relate to the Canadian Institute of Actuaries’ Standards of Practice. These changes are in effect December 11, 2019.

Regulation 422/19 made under the Pension Benefits Act

O.Reg. 422/19 was filed on December 11, 2019 and amends O.Reg. 310/13. The amendments relate to the Canadian Institute of Actuaries’ Standards of Practice. These changes are in effect December 11, 2019.  

Regulation 423/19 made under the Pension Benefits Act

O.Reg. 423/19 was filed on December 11, 2019 and amends O.Reg. 311/15. The amendments relate to the Canadian Institute of Actuaries’ Standards of Practice. These changes are in effect December 11, 2019.  

Bill 138 Plan to Build Ontario Together Act, 2019

Bill 138 received Royal Assent on December 10, 2019. Schedule 29 relates to amendments to the Pension Benefits Act.

Bill 132 Better for People, Smarter for Business Act, 2019

Bill 132 received Royal Assent on December 10, 2019. Schedule 9 relates to amendments to Regulation 909 under the Pension Benefits Act.

Regulation 400/19 made under the Pension Benefits Act

O.Reg. 400/19 was filed on December 2, 2019 and amends Regulation 909. The amendments relate to specified Ontario multi-employer pension plans. Most provisions are in effect December 31, 2019.

Regulation 401/19 made under the Pension Benefits Act

O.Reg. 401/19 was filed on December 2, 2019 and amends O.Reg. 156/13. The amendment relates to specified Ontario multi-employer pension plans. This change is effective December 31, 2019.

Regulation 105/19 made under the Pension Benefits Act

O. Reg. 105/19 was filed on May 21, 2019 and amends Regulation 909. The amendments relate to the funding framework for defined benefit single employer pension plans. Most provisions are in effect as at May 21, 2019.

Bill 100 Protecting What Matters Most Act (Budget Measures), 2019

Bill 100 received first reading on April 11, 2019. Schedule 48 relates to amendments to the Pension Benefits Act. Schedule 26 relates to amendments to the Financial Services Commission of Ontario Act, 1997. Schedule 27 relates to amendments to the Financial Services Regulatory Authority of Ontario Act, 2016. Schedule 28 relates to amendments to the Financial Services Tribunal Act, 2017. More information is available on the Ministry of Finance website; see the 2019 Ontario Budget.

Bill 66, Restoring Ontario’s Competitiveness Act, 2019

Bill 66 received Royal Assent on April 3, 2019. Schedule 6 relates to amendments to the Pension Benefits Act.