Ministry of Finance Consultation: Individual pension plans and designated plans

The Ministry of Finance is consulting on proposed changes to the Pensions Benefit Act (PBA) which, if passed, would reduce red tape in the pension regulatory framework. If passed, proposed changes would allow certain individual pension plans (IPPs) and designated plans (DPs) to elect to be exempt from the PBA.

The consultation closes on January 23, 2020. If you would like more information or to provide your feedback, please visit the government’s consultation page: Consultation: Individual pension plans and designated plans.

Consultations and proposed legislation

On August 6, 2019, the Ontario government released a consultation document that provides details of proposed amendments to the Pension Benefits Act to help facilitate further electronic communication between administrators and members. Comments may be submitted to the Ministry of Finance by August 27, 2019.