News & Updates
Federal government updates Pension Benefits Standards Regulations for Negotiated Contribution Plans
June 24, 2024
In May, the federal government updated the Pension Benefits Standards Regulations, 1985, pertaining to Negotiated Contribution Plans.
The updates include changes to the definitions of going concern liabilities and normal cost in subsection 2(1). In the same subsection, the definition of going concern ratio was added. There were also changes to the requirements for funding and governance policies.
The amendments aim to enhance retirement security for negotiated contribution plan members and retirees by permitting “more sustainable benefit levels” based on their contributions.
To read the government’s full guidance in the Canada Gazette, click on more information below:
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