New Developments in Pensions and Benefits Law - December 2012

  • December 30, 2012


FED - Federal PRPPs in Force

The federal government finalized the second tranche of pooled registered pension plan (PRPP) regulations and declared the new PRPP regime in force. The federal PRPP framework is available to federally regulated businesses. For it to apply to provincially regulated companies, each province would have to implement legislation adopting the framework.


FED - Budget Bill C-45

Bill C-45, A second Act to implement certain provisions of the budget tabled in Parliament on March 29, 2012 and other measures, received royal assent on December 14, 2012.


AB - Alberta Bill 10 re Pension Reform

Alberta's Bill 10, Employment Pension Plans Act, received royal assent on December 10, 2012.Bill 10 will replace Alberta's current Employment Pension Plans Act in its entirety.Bill 10 mirrors many of the amendments included in British Columbia's Bill 38, which was passed last year.


QUE - Quebec Bill 80 Re VRSPs Update

Quebec's Bill 80, An Act respecting voluntary retirement savings plans, expired on the order paper when the Quebec election was called.