News & Updates
Newfoundland & Labrador Amends Pension Benefits Regulation, Extending Solvency Funding Exemption
April 21, 2022
Newfoundland and Labrador filed Regulation 15/22, amending the Pension Benefits Act Regulation.
The amendments extend solvency funding exemptions (except for solvency deficits related to benefit improvements or past service grants) for:
- The Newfoundland and Labrador Municipal Employees Benefits Inc. Pension Plan
- The Retirement Plan for Employees of the Town of Happy Valley-Goose Bay
- The Retirement Benefit Plan for the Employees of the City of St. John’s
- The Pension Plan for the Union Employees of the St. John’s Transportation Commission and the Pension Plan for the Non-Union Employees of the St. John’s Transportation Commission
- The Defined Benefit Retirement Plan for Employees of the Town of Grand Falls-Windsor.
These amendments are considered to have come into force on December 31, 2020.
