Order in Council 1217/2024

On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Whereas the Building Ontario Fund is an agent of the Crown established pursuant to the Building Ontario Fund Act, 2024, S.O. 2024, c. 12, Sched. 1 as a corporation without share capital on May 16, 2024;

And whereas Building Ontario Fund has requested to be designated as a participating employer in the Public Service Pension Plan set out in Schedule 1, as amended, to the Public Service Pension Act, 1989 (PSPP) and in the Retirement Compensation Arrangement established under Order in Council 1298/2021, as may be amended from time to time (RCA);

And whereas the Lieutenant Governor in Council considers it reasonable and appropriate for Building Ontario Fund to join as a participating employer in the PSPP and in the RCA and for eligible employees of Building Ontario Fund to join the PSPP and the RCA(if applicable);

And whereas members of the PSPP whose pension benefits under the PSPP exceed the maximum pension benefits permitted under the Income Tax Act (Canada) in respect of registered pension plans also participate in the RCA;

Now therefore, pursuant to:

1. paragraph 2 of subsection 2(1) of the PSPP, all permanent full-time and permanent part-time employees of Building Ontario Fund are designated as a class of employees who are required to become members of the PSPP, in respect of service with Building Ontario Fund on and after August 1, 2024; and
2. paragraph 1 of subsection 2(2) of the PSPP, all fixed-term full-time and fixed-term part-time employees of Building Ontario Fund are designated as a class of employees who are entitled but not required to become members of the PSPP, in respect of service with Building Ontario Fund on and after August 1, 2024, and shall, upon filing a written election with the Ontario Pension Board, become members of the PSPP;

AND FURTHER THAT Building Ontario Fund shall be an employer under the PSPP and the RCA for the purpose of the employees designated in this Order in Council.