Second

Session, 50th General Assembly

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

S.2 Amdt.

Definitions

S.6 Amdt.

Powers and duties of superintendent

S.7 Amdt.

Inspection of documents

S.17 Amdt.

Conflict of interest

S.20 Amdt.

Void amendments

S.21 Amdt.

Revocation of registration

S.25 Amdt.

Disclosure of information

S.39 Amdt.

Fifty percent rule

S.42 Amdt.

CPP, QPP and OAS reduction

S.44.1 Amdt.

Withdrawal financial hardship

S.44.2 Amdt.

Withdrawal non-resident

S.45 Amdt.

Joint and survivor pensions

S.47 Amdt.

Pension entitlement on marriage breakdown

S.53 Amdt.

Clarification or objection

S.57 Amdt.

Surplus payment

S.69 Amdt.

Application to court

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".

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

(

a) deleting the words "his or her" and

substituting the words "the f ormer member's or the

surviving principal beneficiary's"; and

(

b) deleting the words "he or she" and

substituting the words "the f ormer 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".

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".

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