May 2010

Legislative changes for federal pensions winding through Parliament

Major changes include immediate vesting of pension benefits and allowing pension surplus to increase to 25 percent.

Ottawa (13 May 2010) – A series of proposed changes to the legislation governing federally-registered pension plans, the Pension Benefits Standards Act, 1985 (PBSA) are winding its way through Parliament. The changes are part of omnibus legislation known as Bill C-9, an Act to implement certain provisions of the 2010 federal budget tabled in Parliament back in March.