The Alberta and British Columbia governments have decided to appoint a joint panel to review pension standards. The governments will collaborate to review the two provinces’ pension legislation: Alberta’s Employment Pension Plans Act and British Columbia’s Pension Benefits Standards Act.

The six-member panel will consult with stakeholders and present its findings and recommendations to the provinces’ finance ministers by Sept. 30, 2008. Issues the panel will focus on include encouraging the creation and maintenance of employee pension plans, removing barriers to the creation of those plans, and balancing risks and rewards.

The Association of Canadian Pension Management(ACPM)is pleased with the provinces’ announcement. Scott Perkin, president of the ACPM, said this initiative shows that the Alberta and B.C. governments recognize the importance of occupational pension plans and clear legislation. Perkin also said that the ACPM will support the panel’s work in whatever way it can.

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