Alberta released Draft Interpretive Guideline 21 (IG-21) explaining what a Life Income Type Benefit (LITB) is and what is required for a pension plan to offer this benefit option by the provisions of the Employment Pensions Plans Act and the Employment Pension Plans Regulation. The guideline summarizes the legislative requirements that apply to the subject matter, and includes (as applicable) additional details to outline the Superintendent of Pensions (Superintendent) expectations and requirements where such authority has been provided by the Act and Regulation. The guideline outlines best practices and policies that the Superintendent expects from provincially regulated pension plans.
Comments are due August 3, 2018.
Submit your comments via email to firstname.lastname@example.org, using the Subject Line “Interpretive Guidelines Consultation".
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