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Amendments to Supplemental Pension Plans Act Affect
Phased Retirement and Various Other Aspects of the Act
Phased retirement is not a new phenomenon in Quebec. The province was the first jurisdiction in Canada to allow phased retirement back in 1997. However, the province has tabled legislation to amend the phased retirement provisions of its Supplemental Pension Plans Act (SPPA) to reflect recent changes to the federal Income Tax Act. Introduced on April 2, 2008, Bill 68 also breaks new ground by including measures allowing hybrid and defined contribution pension plans to offer phased retirement. It also makes other important changes to the SPPA’s provisions.
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