Ontario (Canada) Issues Draft Regulations Under the Pension Benefits Act

The Ministry of Finance issued changes to Regulation 909 that would (1) enable the proclamation of the ?Ç£retired member?Ç¥ provisions in the PBA; (2) implement immediate vesting for plan members and increase the threshold for the small pension payout rule; (3) further clarify the surplus payment rules; and (4) reflect changes to the Income Tax Act (Canada) regarding Individual Pension Plans. Draft Regulations are here. Discussion paper can be found here.