Order in Council 618/2021

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 Invest Ontario is an agent of the Crown established under Ontario Regulation 357/20 of the Development Corporations Act, 1990 as a corporation without share capital;

And whereas Invest Ontario 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 Public Service Supplementary Benefits Account continued under Order in Council 867/2019, as may be amended from time to time (PSSBA);

And whereas the Lieutenant Governor in Council considers it reasonable and appropriate for Invest Ontario to join as a participating employer in the PSPP and in the PSSBA and for former employees of the Ontario Public Service who are employees of Invest Ontario to continue to participate in the PSPP and the PSSBA, as well as for other eligible employees of Invest Ontario to join the PSPP and the PSSBA;

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 PSSBA;

And whereas the Crown is requesting that Invest Ontario indemnify the Crown against any and all liabilities incurred in connection with Invest Ontario’s participation as an employer under the PSPP and the PSSBA;

And whereas Invest Ontario has committed to indemnifying the Crown against liabilities incurred in connection with its participation as an employer under the PSPP and PSSBA by executing an indemnification agreement by no later than May 1, 2021;

Now therefore pursuant to:

1. paragraph 2 of subsection 2(1) of the PSPP, all permanent full-time and permanent part-time employees of Invest Ontario are designated as a class of employees who are required to become members of the PSPP, in respect of service with Invest Ontario on and after May 1, 2021;  and
2. paragraph 1 of subsection 2(2) of the PSPP, all fixed-term full-time and fixed-term part-time employees of Invest Ontario are designated as a class of employees who are entitled but not required to become members of the PSPP, in respect of service with Invest Ontario on and after May 1, 2021, and shall, upon filing a written election with the Ontario Pension Board, become members of the PSPP;

And further that Invest Ontario shall be an employer under the PSPP and the PSSBA for the purpose of the employees designated in this Order.