Major tweaks proposed for pensions

Measures enhance protection for plan members, modernize investment rules
By Sarah Dobson
|Canadian HR Reporter|Last Updated: 11/15/2009

The federal government has proposed several changes for the seven per cent of pension plans that are federally regulated — which could also have implications for provincial plans.

The scope of the proposed changes is surprising and Ottawa should be commended for taking the lead in reforming the private pension system, said Jeffrey Sommers, a partner with law firm Blakes in Toronto.

“There was clearly an attempt at balancing interests here,” he said. “Generally these things are favourable — many of the proposals here are things that plans sponsors were advocating.”