ontario regulation 321/23

made under the

Pension Benefits Act

Made: September 28, 2023
Filed: October 3, 2023
Published on e-Laws: October 3, 2023
Published in The Ontario Gazette: October 21, 2023

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

(GENERAL)

1. Paragraph 1 of subsection 6.0.1 (2) of Regulation 909 of the Revised Regulations of Ontario, 1990 is revoked and the following substituted:

1.  The date on which the first report is filed under section 3 or 14 in respect of the plan for a valuation date after January 1, 2025.

2. Subsection 6.0.3 (2) of the Regulation is amended by striking out “January 1, 2024” at the end and substituting “January 1, 2025”.

3. (1) Clause 6.0.4 (1) (b) of the Regulation is revoked and the following substituted:

(b)  if the valuation date of the report falls on or before January 1, 2025.

(2) Paragraph 5 of subsection 6.0.4 (8) of the Regulation is revoked and the following substituted:

5.  In the case of a specified Ontario multi-employer pension plan in respect of which section 6.0.5 applies, a statement that any adjustments to contributions or benefits to satisfy solvency funding or reduced solvency funding requirements determined in reports filed before the date on which the plan became a specified Ontario multi-employer pension plan will be deferred until January 1, 2025.

4. Paragraph 1 of subsection 6.0.5 (4) of the Regulation is amended by striking out “January 1, 2024” at the end and substituting “January 1, 2025”.

5. Subsection 14 (6) of the Regulation is revoked and the following substituted:

(6) As of January 1, 2025, subsection (5) ceases to apply to a multi-employer pension plan referred to in that subsection.

Commencement

6. This Regulation comes into force on January 1, 2024.