This is an official version.
Copyright © 2012: Queen's Printer,
Statutes of Newfoundland and Labrador 2012
AN ACT TO AMEND THE PENSION
(Assented to December 22, 2012)
Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:
1. Section 2 of the Pension Benefits Act, 1997 is amended by adding immediately after paragraph (v) the following:
(v.1) "multi-jurisdictional pension plan"
means a pension plan that is subject to this Act and to the pension benefits
legislation of one or more designated provinces or of
(v.2) "multilateral agreement" means an agreement entered into under section 8.2;
2. The Act is amended by adding immediately after section 8 the following:
8.1 An agreement entered into under section 8 continues in force until it is terminated according to its terms or until the minister and the other party to the agreement become subject to a multilateral agreement.
8.2 (1) The minister may, subject to the approval of the Lieutenant-Governor in Council, enter into a multilateral agreement respecting multi-jurisdictional pension plans with the government of a designated province or of Canada, or with more than one of them.
(2) A multilateral agreement may provide for
(a) the application of this Act and the regulations to multi-jurisdictional pension plans;
(b) the application of the pension benefits
legislation of a designated province or of
(c) the application of the multilateral agreement itself to multi-jurisdictional pension plans; and
(d) the supervision and regulation of multi-jurisdictional pension plans.
Status of agreement
8.3 (1) A multilateral agreement shall specify the date on which it comes into force and it acquires the force of law in the province as of that date.
(2) In the event of an inconsistency between a provision of a multilateral agreement and a provision of this Act or the regulations, the provision of the multilateral agreement prevails to the extent of the inconsistency.
8.4 The administrator of a multi-jurisdictional pension plan shall comply with the requirements in a multilateral agreement that apply with respect to the pension plan and with requirements imposed under the authority of a multilateral agreement.
8.5 An employer or person required to make contributions to a multi-jurisdictional pension plan on the employer's behalf shall comply with the requirements in a multilateral agreement that apply with respect to the pension plan and with requirements imposed under the authority of a multilateral agreement.
8.3, 8.4 and 8.5 do not apply to a multi-jurisdictional pension plan unless the
minister has entered into a multilateral agreement with a designated province
8.7 (1) The minister shall publish a multilateral agreement and an amendment to a multilateral agreement in the Gazette as soon as practicable after entering into a multilateral agreement or making the amendment.
(2) A multilateral agreement or an amendment to it published under subsection (1) is not subordinate legislation for the purpose of the Statutes and Subordinate Legislation Act.