The impact of recent Ontario Pension Benefit Act changes

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November 21, 2012 Solvency relief for defined benefit pension plans Temporary measures • Consolidation of existing solvency payment schedules into a new longer five-year payment schedule • Extend the solvency payment schedule up to 10 years (from the current maximum of five years) for new solvency deficiency subject to plan beneficiary consent Permanent measures • Permit solvency and going concern special payments to be amortized beginning one year after a plan valuation date • Permit the use of irrevocable letters of credit issued by financial institutions to cover up to 15% of a plan’s solvency liabilities 20 2012 Ontario Pension Changes
November 21, 2012 FSCO-CAPSA activity 21 2012 Ontario Pension Changes
Page 1 and 2: The impact of recent Ontario Pensio
Page 3 and 4: November 21, 2012 How we got here!
Page 5 and 6: November 21, 2012 What are the chan
Page 7 and 8: November 21, 2012 Immediate vesting
Page 9 and 10: November 21, 2012 Grow-in rules for
Page 11 and 12: November 21, 2012 Grow-in ….. Imp
Page 13 and 14: November 21, 2012 Partial wind-up -
Page 15 and 16: November 21, 2012 Small pensions -
Page 17 and 18: November 21, 2012 Electronic transm
Page 19: November 21, 2012 Defined benefit p
Page 23 and 24: Management of Inquiries and Complai
Page 25 and 26: November 21, 2012 CAPSA activity Ju
Page 27 and 28: November 21, 2012 Multi-jurisdictio
Page 29 and 30: November 21, 2012 Who has signed th
Page 31 and 32: November 21, 2012 What’s next! 31
Page 33 and 34: November 21, 2012 Plan design innov
Page 35: November 21, 2012 QUESTIONS David B

The impact of recent Ontario Pension Benefit Act changes

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