BILL NO. 179
1st Session, 60th General Assembly
56 Elizabeth II, 2007
Private Member's Bill
Pension Benefits Act
First Reading: April 4, 2007
This Bill requires the Minister of Environment and Labour to commission an independent review of
solvency valuation requirements under regulations made pursuant to the Pension Benefits Act.
An Act to Amend Chapter 340
Be it enacted by the Governor and Assembly as follows:
of the Revised Statutes, 1989,
the Pension Benefits Act
1 Chapter 340 of the Revised Statutes, 1989, the Pension Benefits Act, is amended by adding immediately after Section 6 the following Section:
6A (1) Subject to subsection (4), the Minister shall cause an independent review to be undertaken of the solvency valuation requirements under Sections 4, 12 and 13 of the Pension Benefits Regulations including, without limiting the generality of the foregoing, the
requirements as they apply to multi-employer pension plans.
(2) The review must include recommendations respecting the matters reviewed.
(3) The Minister shall table a report of the review and its recommendations in the House of Assembly or, if the House is not then sitting, file the report with the Chief Clerk of the House on or before September 1, 2007.
(4) The moneys required for the purpose of
this Section shall be paid out of moneys appropriated for that purpose by the Legislature.
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