B.C. introduces Finance Statutes Amendment Act which includes updates to the Pension Benefits Act and Pooled Registered Pension Plans Act
March 15, 2023
British Columbia introduced Bill 4, Finance Statutes Amendment Act, 2023, which passed third reading on February 14, 2023.
This bill introduces amendments to the Pension Benefits Standards Act and to the Pooled Registered Pension Plans Act.
Amendments made to both Acts provide that certain types of pension payments may be subject to a preservation order or forfeiture order under Part 18.1 (Preservation Orders and Additional Collective Remedies) of the Securities Act, or subject to an attachment order in furtherance of any other process to enforce an order under the Securities Act.
These changes are due to come into force on a date to be named by the Lieutenant Governor in Council.
Click on more information below for more details on Bill 4:
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