The impact of recent Ontario Pension Benefit Act changes
The impact of recent Ontario Pension Benefit Act changes
The impact of recent Ontario Pension Benefit Act changes
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November 21, 2012<br />
Small pension commutation thresholds<br />
Thresholds have been revised ….<br />
Defined <strong>Benefit</strong> plans<br />
• Where the deferred pension is <<br />
4% <strong>of</strong> the YMPE in the year <strong>of</strong><br />
termination <strong>of</strong> employment, or<br />
• <strong>The</strong> CV <strong>of</strong> the deferred pension is<br />
< 20% <strong>of</strong> the YMPE in the<br />
year <strong>of</strong> termination <strong>of</strong> employment.<br />
Defined Contribution plans<br />
• <strong>The</strong> account value is < 20% <strong>of</strong> the<br />
YMPE in the year <strong>of</strong> termination <strong>of</strong><br />
employment.<br />
14<br />
2012 <strong>Ontario</strong> <strong>Pension</strong> Changes
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