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OC 410/2017 - The Pension Benefits Amendment Regulations, 2017 (Minister of Justice and Attorney General)
Description:

Title: The Pension Benefits Amendment Regulations, 2017

Minister: Minister of Justice and Attorney General

Summary: On filing date, these regulations will amend RRS P-6.001 Reg 1 to:

  • Remove the requirement to fund solvency deficiencies;
  • Require provisions for adverse deviation (PfAD) to be funded on the current service cost (CSC);
  • Require plan administrators to provide additional communication to plan members;
  • Restrict increases to pensions in pay; and
  • Allow pension plan contracts to be amended to provide the option to calculate commuted values (CV) based on the plan’s going concern assumptions and to permanently decrease the CV to the funded position of the plan.
See: The Pension Benefits Act, 1992, section 69





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