March 30, 2010
Manitoba Pension Benefits Amendment Act receives Royal Assent.

Amendments to the Manitoba Pension Benefits Act (MPBA) effective March 31, 2010:portability must be offered on termination of plan membership; and enhanced disclosure requirements.

Amendments to the MPBA effective May 31, 2010:

  • immediate vesting;
  • new surplus distribution rules;
  • requirement for plan to be administered by a pension committee after Sept. 28, 2011;
  • contribution holidays restricted unless solvency ratio is 1.05 or more; and
  • investment options for DC plan members.

Jessica Bullock is in the pension and employee benefits group with Blake, Cassels & Graydon LLP.

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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