News & Updates
Saskatchewan Bill 108 receives Royal Assent, May 17, 2023
June 14, 2023
Saskatchewan Bill 108, The Pension Benefits Amendment Act, 2022, received Royal Assent on May 17, 2023.
The revised legislation includes extensive updates to The Pension Benefits Act, 1992 (PBA).
Bill 108 expands Superintendent authority, allows plan administrators to purchase annuities to provide defined benefits, permits employers to establish solvency reserve accounts and utilize letters of credit instead of solvency deficiency contributions (within a predetermined limit). Additionally, new provisions absolve the government, the Superintendent, and their representatives of liability in the case of litigation.
To access the full Bill and it’s amendments, click on more information:
