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Order in Council 389/2023

On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Whereas subsection 100(1) of the Pension Benefits Act (the “Act”) provides that the Minister of Finance (the “Minister”), with the approval of the Lieutenant Governor in Council (the “ LGIC ”), may enter into one or more agreements on behalf of the Crown with a representative of a designated jurisdiction concerning the pension benefits legislation that governs designated multi-jurisdictional pension plans in Ontario and in the designated jurisdiction;

And

whereas subsection 1(1) of the Act provides that a “designated jurisdiction” means any jurisdiction in Canada, including Canada itself, that is prescribed as a jurisdiction in which there is in force legislation substantially similar to the Act;

And

whereas Canada, and the provinces of Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Québec and Saskatchewan are prescribed as designated jurisdictions for the purposes of the Act;

And

whereas the Minister wishes to enter into an agreement entitled “2023 Agreement Amending the 2020 Agreement Respecting Multi-Jurisdictional Pension Plans” (the “2023 Agreement”) on behalf of the Crown with a representative of one or more of the designated jurisdictions concerning the pension benefits legislation that governs designated multi-jurisdictional pension plans in Ontario and in those jurisdictions;

And

whereas the 2023 Agreement would amend the agreement entitled “2020 Agreement Respecting Multi-Jurisdictional Pension Plans” between the Minister and representatives of Alberta, British Columbia, New Brunswick, Nova Scotia, Québec, Saskatchewan and Canada, entered into by the Minister with the approval of the LGIC pursuant to O.C. 650/2020;

Therefore :

Approval is hereby granted, and the Minister of Finance is authorized to enter into an agreement, on behalf of the Crown, substantially in the form of the attached “2023 Agreement Amending the 2020 Agreement Respecting Multi-Jurisdictional Pension Plans” with a representative of one or more of the designated jurisdictions.

This order is effective on the day the order is made.

2020 Agreement

2023 Agreement

Ministry of Finance

Approved and Ordered:

March 23, 2023

Updated: July 04, 2023

Published: July 04, 2023