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OC 412/2013 - The Pension Benefits Amendment Regulations, 2013 (Minister of Justice and Attorney General)
Description:

Title: The Pension Benefits Amendment Regulations, 2013

Minister: Minister of Justice and Attorney General

Summary: (1) Subject to subsection (2), these regulations come into force on the day on which they are filed with the Registrar of Regulations.

(2) Section 4 comes into force on the day on which these regulations are filed with the Registrar of Regulations but is retroactive and is deemed to have been in force on and from January 1, 2013.

These regulations will amend RRS P-6.001 Reg 1 to:

  • Remove the requirement that public sector defined benefit pension plans must fund solvency deficiencies;
  • Remove the requirement that public sector defined benefit pension plans must fund solvency deficiencies;
  • Increase the fees for filling registration applications and annual returns;
  • Eliminate the transfer deficiency holdback on pre-retirement death benefits for all pension plans;
  • Provide that, under these new funding rules, the implementation of increases to current service contributions and special payments may be delayed for one year; and
  • Make other housekeeping amendments.
See: The Pension Benefits Act, 1992, section 69





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