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Newfoundland and Labrador
Regulation 2017


NEWFOUNDLAND AND LABRADOR REGULATION 25/17

NEWFOUNDLAND AND LABRADOR
REGULATION 25/17

Pension Benefits Act Regulations (Amendment)
under the
Pension Benefits Act, 1997
(O.C. 2017-118)

(Filed April 4, 2017)

Under the authority of section 78 of the Pension Benefits Act, 1997, the Lieutenant-Governor in Council makes the following regulations.

Dated at St. John’s, March 30, 2017.

Bernard M. Coffey, Q.C.
Clerk of the Executive Council

REGULATIONS

Analysis


        1.   S.42.4 Amdt.
City of St. John's retirement benefit plan exemption

        2.   S.42.5 Amdt.
St. John's Transportation Commission exemption

        3.   Commencement


NLR 114/96
as amended

        1. Subsection 42.4(1) of the Pension Benefits Act Regulations is repealed and the following substituted:

City of St. John's retirement benefit plan exemption

   42.4 (1) The Retirement Benefit Plan for the Employees of the City of St. John's is exempt from the requirement of paragraph 12(3)(d) for the period of December 31, 2015 to December 31, 2020 in respect of the solvency deficiency of the plan.

 

        2. Subsection 42.5(1) of the regulations is repealed and the following substituted:

St. John's Transportation Commission exemption

   42.5 (1) The Pension Plan for the Union Employees of the St. John's Transportation Commission and the Pension Plan for the Non-Union Employees of the St. John's Transportation Commission are exempt from the requirement of paragraph 12(3)(d) for the period of December 31, 2016 to December 31, 2020 in respect of the solvency deficiency of the plans.

Commencement

        3. (1) Section 1 is considered to have come into force on December 31, 2015.

             (2)  Section 2 is considered to have come into force on December 31, 2016.