O. Reg. 421/19: FAMILY LAW MATTERS, Filed December 11, 2019 under Pension Benefits Act, R.S.O. 1990, c. P.8
ontario regulation 421/19
made under the
Pension Benefits Act
Made: October 25, 2019
Filed: December 11, 2019
Published on e-Laws: December 11, 2019
Printed in The Ontario Gazette: December 28, 2019
Amending O. Reg. 287/11
(FAMILY LAW MATTERS)
1. Ontario Regulation 287/11 is amended by striking out “the Canadian Institute of Actuaries Standards of Practice” wherever it appears and substituting in each case “the Standards of Practice”.
2. (1) Subsection 2 (3) of the Regulation is amended by striking out “as that section read upon being revised on March 31, 2015” at the end and substituting “as amended from time to time”.
(2) Section 2 of the Regulation is amended by adding the following subsection:
(3.1) In the event of a conflict between section 3500 of the Standards of Practice and a provision of this Regulation, the provision of this Regulation prevails.
3. Section 3 of the Regulation is amended by adding the following subsection:
(2.1) For a pension plan described in subsection 14 (2) or (3) of the Act, the methods and actuarial assumptions referred to in subsection (2) must be consistent with section 3500 of the Standards of Practice as if subsection 14 (1) of the Act applied in respect of the pension plan.
4. Section 38 of the Regulation is amended by adding the following subsection:
(3.1) For a pension plan described in subsection 14 (2) or (3) of the Act, the methods and assumptions referred to in subsection (3) must be consistent with section 3500 of the Standards of Practice as if subsection 14 (1) of the Act applied in respect of the pension plan.
Commencement
5. This Regulation comes into force on the day it is filed.