Ontario’s New Framework for Defined Benefit Pension Plans

On April 23, 2018, the Ontario government announced that a new framework for defined benefit pension plans has been filed and will be effective May 1, 2018. These rules will apply to actuarial valuation reports dated on or after December 31, 2017 that are filed on or after May 1, 2018.  A review of the current funding framework was initiated in response to the funding pressures on plan sponsors due to low long-term interest rates.

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Ontario’s New Framework for Defined Benefit Pension Plans

 

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