Staff
The Ontario government has released a draft regulation to the Pension Benefits Act—amending Regulation 909 (General)—for comment by June 1, 2012.
The proposed regulation would implement immediate vesting for plan members, clarify surplus rules and reflect changes to the Income Tax Act regarding individual pension plans.
A consultation paper was also released, outlining the new extended grow-in rules, which come into force July 1, 2012. Comments may be made on the paper until June 1, 2012.
More to come…