|
Government of Nova Scotia Seeks Input on Pension Reform
The Nova Scotia Department of Labour and Workforce Development released a discussion paper on pensions and asks employers, employees, unions and the industry to provide input on proposed private sector pension plan regulations. Specifically, the Department would like input on a proposed pension plan funding formula and whether or not regulations should be more flexible.
In principle the Department agrees with the Pension Review Panel's recommendation that new options should be allowed under the Pension Benefits Act, however, it would like input whether target benefit plans should be allowed. Additional items for which the Department is seeking feedback include: proposed solvency funding and valuation measurement, treatment of ancillary benefits, temporary funding relief measures, funding transition rules, strengthening of governance rules and inclusion or exclusion of safe harbour provisions. The Department would also like input on a variety of regulatory and legislative issues. Comments are due by April 15, 2010.
|