On May 5, 2010, Bill 236, the Pension Benefits Amendment Act, 2010 carried at Third Reading, and is expected to receive Royal Assent. Bill 236 was reported as amended by the Standing Committee on Finance and Economic Affairs on April 19, 2010.

The Bill 236 amendments will enhance certain individual member rights and entitlements, provide the Superintendent of Financial Services with expanded oversight powers and include new wind-up and asset transfer rules. As reported in our December 15, 2009 FTR Now, Bill 236 was introduced on December 9, 2009, marking the beginning of the Ontario government’s multi-stage pension reform process.