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 />
What is the MJPPA?<br />
An agreement between Canadian Regulators which allows for the<br />
efficient administration <strong>of</strong> pension plans that have members in more<br />
than one pension jurisdiction<br />
Once fully in force the MJPPA will replace the 1968 Memorandum <strong>of</strong><br />
Reciprocal Agreement and ….<br />
• Delegate authority and responsibility to the major authority<br />
• Require that certain minimum legislative requirements default to the<br />
major authority’s legislation<br />
• Require the Regulators to abide by the agreement<br />
No national agreement means that pension plans would need to register<br />
in each jurisdiction in which they have members<br />
28<br />
2012 <strong>Ontario</strong> <strong>Pension</strong> Changes
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