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Canada:
British Columbia amends pension benefits standards regulations
In December 1999, British Columbia passed Regulation 455/99 which amends the territory's Pension Benefits Standards Regulations and bring into force outstanding sections of the Pension Benefits Standards Act (PBSA) amended by Bill 58 in July 1999. All but one of the remaining sections of Bill 58 are now in effect. While many of the provisions contained in the Regulation clarify or give effect to the earlier PBSA amendments, a number of substantial changes were also implemented. The key amendments introduced by this regulation and their impact for plan sponsors are examined in detail in a Watson Wyatt Special Memorandum and can be found on the Watson Wyatt web site.
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