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Ontario exempting certain IPPs from pension legislation

Lea Koiv and William C. Kennedy The Ontario government has passed legislation that reduces the regulatory burden for certain individual pension plans (IPPs). Certain IPPs and designated plans will be exempt from requirements under Ontario’s Pension Benefits Act (PBA) notably, minimum funding requirements. The changes were introduced in the Progressive Conservative government’s 2019 fall fiscal update and passed earlier this month. Reducing the regulatory burden will likely lead to more IPPs being implemented. Ontario’s changes are especially welcome in the Covid-19 environment, as many employers try to conserve cash. The new rules mean employers can defer their contributions to a later period.

FSRA issues final guidance on missing pension plan members

FSRA issues final guidance on missing pension plan members
benefitscanada.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benefitscanada.com Daily Mail and Mail on Sunday newspapers.

PACE credit union names David Finnie CEO following mass exodus of board, senior executives

PACE credit union names David Finnie CEO following mass exodus of board, senior executives
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.

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