O. Reg. 252/18: GENERAL, Filed April 20, 2018 under Pension Benefits Act, R.S.O. 1990, c. P.8

ontario regulation 252/18

made under the

Pension Benefits Act

Made: April 18, 2018
Filed: April 20, 2018
Published on e-Laws: April 20, 2018
Printed in The Ontario Gazette: May 5, 2018

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

(GENERAL)

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

47.9 (1) This section applies with respect to the pension plans listed in section 1 of Ontario Regulation 321/09 (General Motors Pension Plans) made under the Act.

(2) The pension plans are exempt from sections 14.0.1 and 55.1 of the Act.

(3) The provision for adverse deviations for the pension plans is deemed to be zero, despite section 11.2.

(4) The following provisions of this Regulation do not apply to the pension plans:

1. Clause (c) of the definition of “going concern assets” in subsection 1 (2).

2. Clause (b) of the definition of “past service unfunded actuarial liability” in subsection 1 (2).

3. Sub-subclause (a) (ii) (B) of the definition of “transfer ratio” in subsection 1 (2).

4. Clauses 1.2 (1) (d.1), (2.1) (b) and (2.2) (b).

5. Section 3.0.1.

6. Subsection 4 (1.1).

7. Clauses 4 (2) (a.1) and (b.1).

8. Subsection 4 (2.1.1).

9. Paragraphs 1.2.1 and 2.0.1 of subsection 4 (2.3).

10. Subsections 5 (1.0.0.1) and (17.1).

11. Subsection 7 (1.1).

12. Sections 7.0.1, 7.0.2, 7.0.3 and 8.

13. Subsection 11 (4).

14. Subsections 14 (8.0.2), (8.0.4) and (8.0.5).

15. Clauses 40 (1) (q.1) and (q.2).

16. Subsection 40 (3).

17. Clauses 40.1 (1) (n.1) and (n.2).

18. Subsection 40.1 (4).

19. Clauses 40.2 (1) (m.1) and (m.2).

20. Subsection 40.2 (4).

(5) The provisions of this Regulation listed in subsection (6) are deemed to apply to the pension plans for every report, despite any reference in the provisions to the fact that they apply with respect to reports with a valuation date before December 31, 2017 or to jointly sponsored pension plans listed in subsection 1.3.1 (3).

(6) The provisions referred to in subsection (5) are the following:

1. Clause (b) of the definition of “going concern assets” in subsection 1 (2).

2. Clause (a) of the definition of “past service unfunded actuarial liability” in subsection 1 (2).

3. Sub-subclause (a) (ii) (A) of the definition of “transfer ratio” in subsection 1 (2).

4. Clauses 1.2 (1) (d), (2.1) (a) and (2.2) (a).

5. Clause 4 (2) (a).

6. Paragraphs 1.2 and 2 of subsection 4 (2.3).

7. Subsection 5 (17).

8. Subsections 14 (7) and (8).

9. Clause 40 (1) (q).

10. Clause 40.1 (1) (n).

11. Clause 40.2 (1) (m).

Commencement

2. This Regulation comes into force on the later of the day subsection 1 (4) of Schedule 33 to the Stronger, Fairer Ontario Act (Budget Measures), 2017 comes into force and the day it is filed.