O. Reg. 529/21: GENERAL

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ontario regulation 529/21

made under the

Pension Benefits Act

Made: July 29, 2021
Filed: July 29, 2021
Published on e-Laws: July 30, 2021
Printed in The Ontario Gazette: August 14, 2021

Amending Reg. 909 of R.R.O. 1990

(GENERAL)

1. Section 3 of Regulation 909 of the Revised Regulations of Ontario, 1990 is amended by adding the following subsection:

(1.1.2) Despite clause (1) (c), a report under this section is not required to include the information required under subclauses 14 (8.0.4) (h) (ii) to (viii).

2. (1) Clause 14 (8.0.4) (h) of the Regulation is revoked and the following substituted:

(h)  if a Guarantee Fund assessment is required to be paid,

(i)  the pension plan’s PBGF assessment base, its PBGF liabilities and, if applicable, the value of “B” described in subsection 37 (4),

(ii)  the amount of the pension plan’s modified PBGF liabilities, as described in subsection (8.0.4.1),

(iii)  the number of Ontario plan beneficiaries,

(iv)  the number of Ontario plan beneficiaries who are receiving pensions under the pension plan, including any bridging benefit, of $1,500 or less per month,

(v)  the number of Ontario plan beneficiaries who have accrued pension benefits under the pension plan, including any bridging benefit, of $1,500 or less per month,

(vi)  the 10th, 20th, 30th, 40th, 50th, 60th, 70th, 80th and 90th percentiles of amounts payable under the pension plan to Ontario plan beneficiaries, determined with reference to,

(A)  all of the pensions under the pension plan, including any bridging benefit, and

(B)  all of the pension benefits that have accrued under the pension plan, including any bridging benefit,

(vii)  for each percentile referred to in subclause (vi), the amount of the PBGF liabilities that relates to,

(A)  all of the pensions under the pension plan, including any bridging benefit, that are less than the percentile, and

(B)  all of the pension benefits that have accrued under the pension plan, including any bridging benefit, that are less than the percentile, and

(viii)  the amount of the largest pension or pension benefit that has accrued under the pension plan, including any bridging benefit, to an Ontario plan beneficiary;

(2) Section 14 of the Regulation is amended by adding the following subsections:

(8.0.4.1) The amount of a pension plan’s modified PBGF liabilities for the purpose of subclause (8.0.4) (h) (ii) is the amount of the pension plan’s PBGF liabilities in respect of,

(a)  all Ontario plan beneficiaries who are receiving a pension under the pension plan, including any bridging benefit, of $1,500 or less per month or who have accrued a pension benefit under the pension plan, including any bridging benefit, of $1,500 or less per month; and

(b)  all other Ontario plan beneficiaries who are receiving a pension under the pension plan, including any bridging benefit, or who have accrued a pension benefit under the pension plan, including any bridging benefit, calculated as if each of those individuals were receiving a pension of $1,500 per month or had accrued a pension benefit of $1,500 per month, as the case may be.

(8.0.4.2) Subclauses (8.0.4) (h) (ii) to (viii) do not apply to a report that is in respect of a pension plan whose PBGF liabilities are less than $10,000,000.

3. (1) Subsection 45 (1) of the Regulation is amended by striking out “to the specified persons” at the end of the portion before paragraph 1 and substituting “to the persons described in subsection 29 (1) of the Act”.

(2) Section 45 of the Regulation is amended by adding the following subsections:

(7) If the administrator of a pension plan receives a written request from a person described in subsection 29 (1) of the Act for a record that the administrator is required to make available under this section and the record includes personal information about another individual, the administrator shall disclose as much of the record as can reasonably be severed without disclosing the personal information about the other individual.

(8) In subsection (7), “personal information” has the same meaning as in section 2 of the Freedom of Information and Protection of Privacy Act.

4. (1) Subsections 46 (1) and (2) of the Regulation are amended by striking out “the specified persons” wherever it appears and substituting in each case “the persons described in subsection 29 (1) of the Act”.

(2) Section 46 of the Regulation is amended by adding the following subsections:

(5) If the Chief Executive Officer receives a written request from a person described in subsection 29 (1) of the Act for a document that the Chief Executive Officer is required to provide to the person under this section and the document includes personal information about another individual, the Chief Executive Officer shall disclose as much of the document as can reasonably be severed without disclosing the personal information about the other individual.

(6) In subsection (5), “personal information” has the same meaning as in section 2 of the Freedom of Information and Protection of Privacy Act.

Commencement

5. This Regulation comes into force on the later of September 1, 2021 and the day it is filed.

 

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