Asset Transfers

Sale of business pension transfer rules

January 4, 2017 Employer Advisor, McCarthy Tétrault LLP Employee Relations, HR Policies and Procedures, Human Resources, Payroll, Pensions and Benefits, Source Deductions and Reporting, Union Relations, Wages and Compensation

Ontario has had new sale of business pension transfer rules (the Transfer Rules) since January 1, 2014. The Transfer Rules are found in section 80 of the Pension Benefits Act and the Asset Transfers under Sections 80 and 81 of the Act regulation. However, as with any regime which depends on a set of rules rather than the exercise of discretion, the Transfer Rules’ lack of flexibility may frustrate employment law and reasonable commercial considerations.

Asset Transfers, employment law, Inactive Employees, pension benefits act, reciprocal transfer agreement, Sale of business pension transfer rules, Section 81 transfer, transfer rules