Bill 17 2007

An Act to amend the Pension Benefits Act

Note: This Act amends the Pension Benefits Act.  For the legislative history of the Act, see the Table of Consolidated Public Statutes – Detailed Legislative History on www.e-Laws.gov.on.ca.

Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

   1.  Paragraph 3 of section 85 of the Pension Benefits Act is repealed and the following substituted:

    3.  The amount of any pension or pension benefit, including any bridging supplement, in excess of $2,700 per month or such greater amount as is prescribed by the regulations.

Commencement

   2.  This Act comes into force on the day it receives Royal Assent.

Short title

   3.  The short title of this Act is the Pension Benefits Amendment Act, 2007.

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EXPLANATORY NOTE

The Bill amends the Pension Benefits Act to raise the amount guaranteed by the Pension Benefits Guarantee Fund from $1,000 per month to $2,700 per month.