2023 Bill 61

	561


Second Session, 50th General Assembly II Charles III, 2023
BILL 61
AN ACT TO AMEND THE PENSION BENEFITS ACT, 1997
Received and Read the First Time................................................................
Second Reading............................................................................................
Committee.....................................................................................................
Third Reading...............................................................................................
Royal Assent.................................................................................................
HONOURABLE SARAH STOODLEY Minister of Digital Government and Service Newfoundland and Labrador
Ordered to be printed by the Honourable House of Assembly

EXPLANATORY NOTES

This Bill would amend the Pension Benefits Act, 1997 to

· authorize the Lieutenant-Governor in Council to prescribe multi-employer pension plans that are not subject to subsection 20(1) of the Act;

· replace references to "Trial Division" with the correct reference "Supreme Court"; and

· incorporate gender-neutral language.

A BILL

AN ACT TO AMEND THE PENSION BENEFITS ACT, 1997

Analysis

1. S.2 Amdt.
Definitions

2. S.6 Amdt.
Powers and duties of superintendent

3. S.7 Amdt.
Inspection of documents

4. S.17 Amdt.
Conflict of interest

5. S.20 Amdt.
Void amendments

6. S.21 Amdt.
Revocation of registration

7. S.25 Amdt.
Disclosure of information

8. S.39 Amdt.
Fifty percent rule

9. S.42 Amdt.
CPP, QPP and OAS reduction

10. S.44.1 Amdt.
Withdrawal – financial hardship

11. S.44.2 Amdt.
Withdrawal – non-resident

12. S.45 Amdt.
Joint and survivor pensions

13. S.47 Amdt.
Pension entitlement on marriage breakdown

14. S.53 Amdt.
Clarification or objection

15. S.57 Amdt.
Surplus payment

16. S.69 Amdt.
Application to court

17. S.71 Amdt.
Appeal

Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

SNL1996 cP-4.01
as amended

1. Subparagraph 2(p.1)(ii) of the Pension Benefits Act, 1997 is amended by deleting the words "he or she" and substituting the words "the former member".

2. Paragraph 6(1.1)(a) of the Act is amended by deleting the words "his or her" and substituting the words "the superintendent's".

3. Subsection 7(4) of the Act is amended by

(a) deleting the words "him or her" and substituting the words "the superintendent or authorized representative"; and

(b) deleting the words "his or her".

4. Subsection 17(2) of the Act is amended by deleting the words "he or she" and substituting the words "the person".

5. Subsection 20(2) of the Act is amended by deleting the word "or" at the end of paragraph (a) and by adding immediately after paragraph (a) the following:

(a.1) a multi-employer pension plan prescribed in the regulations; or

6. Subsection 21(2) of the Act is amended by deleting the words "he or she" and substituting the words "the superintendent".

7. Subsection 25(5.1) of the Act is amended by deleting the words "his or her" and substituting the words "the member's".

8. Subsection 39(2) of the Act is amended by deleting the words "his or her" and substituting the words "the former member's".

9. Subsection 42(4) of the Act is amended by deleting the words "he or she attains" and substituting the word "attaining".

10. (1) Subsection 44.1(1) of the Act is amended by

(a) deleting the words "his or her" and substituting the words "the former member's or the surviving principal beneficiary's"; and

(b) deleting the words "he or she" and substituting the words "the former member or the surviving principal beneficiary".

(2) Paragraph 44.1(3)(f) of the Act is amended by deleting the words "his or her" and substituting the words "the person's".

(3) Paragraph 44.1(5)(a) of the Act is amended by deleting the words "he or she" and substituting the words "the person".

11. Subsection 44.2(1) of the Act is amended by

(a) deleting the words "his or her" and substituting the words "the former member's or the surviving principal beneficiary's"; and

(b) deleting the words "he or she" and substituting the words "the former member or the surviving principal beneficiary".

12. Subsection 45(4) of the Act is amended by deleting the words "his or her" and substituting the words "the member's or former member's".

13. (1) Paragraph 47(1)(c) of the Act is amended by deleting the words "he or she" and substituting the words "the member".

(2) Paragraph 47(3)(b) of the Act is amended by deleting the words "his or her" and substituting the words "the member's".

14. (1) Subsection 53(1) of the Act is amended by deleting the words "he or she" and substituting the words "the administrator".

(2) Paragraph 53(2)(a) of the Act is amended by deleting the words "his or her" wherever they appear and substituting the words "the member's".

15. Subsection 57(2) of the Act is amended by deleting the words "his or her" and substituting the words "the superintendent's".

16. Section 69 of the Act is amended by deleting the words "Trial Division" and substituting the words "Supreme Court".

17. Subsection 71(1) of the Act is amended by deleting the words "Trial Division" and substituting the words "Supreme Court".