Bill 174, Pension Benefits Amendment Act, 2014

Bill 174 2014

An Act to amend the Pension Benefits Act

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  Paragraph 3 of section 85 of the Pension Benefits Act is repealed and the following substituted: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 $2,500 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, 2014.

EXPLANATORY NOTE

The Bill amends the Pension Benefits Act to raise the amount guaranteed by the Pension Benefits Guarantee Fund from $1,000 to $2,500 per month.