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Pension Reform: Pension Benefits Standards Act in Force September 30, 2015
The new Pension Benefits Standards Act was passed by the BC Legislature in May of 2012 and amended once in 2014 (the “New Act”). On May 11, 2015 the Regulations to the New Act were released (the “New Regulations”), which provide further detail and rules that support the New Act.
A comprehensive review of the New Regulations is beyond the scope of this announcement. The Pension and Employee Benefits Law Group at Lawson Lundell will be hosting one or more information sessions in the coming weeks to remind sponsors, administrators and advisors of the rules contained in the New Act and to discuss the effect of the New Regulations.