81.0.1 (1) This section applies with respect to single employer pension plans that are public sector pension plans and with respect to prescribed pension plans or classes of pension plans. 2014, c. 7, Sched. 26, s. 13. Proposed conversion (2) This section applies if an employer proposes to convert a single employer pension plan that provides defined benefits into a jointly sponsored pension plan, and proposes to implement the conversion by amending the pension plan. 2014, c. 7, Sched. 26, s. 13. Restriction re: filing of amendments (3) Amendments to the pension plan to convert it into a jointly sponsored pension plan cannot be filed under section 12 until the requirements of this section are satisfied. 2014, c. 7, Sched. 26, s. 13. Requirements re: defined contribution benefits (4) If the single employer pension plan provides defined contribution benefits as well as defined benefits, the conversion of the pension plan is not authorized unless the employer complies with such requirements relating to the defined contribution benefits as may be prescribed. 2014, c. 7, Sched. 26, s. 13. Notice of proposed conversion (5) The administrator shall give notice of the proposed conversion to the members, former members, retired members and other persons entitled to benefits under the plan,  in accordance with such requirements as may be prescribed by regulation, and the notice must contain the following information and such other information as may be prescribed: 1.  A statement that the employer and the members of a jointly sponsored pension plan are required to make contributions in respect of any going concern unfunded liability, solvency deficiency or reduced solvency deficiency, as applicable, and that these contributions may be required in respect of benefits that accrued before the date of the conversion. 2.  A statement indicating that on the wind up of a jointly sponsored pension plan, the amount or commuted value of a pension benefit, a deferred pension or an ancillary benefit may be reduced. 3.  A statement that pension benefits provided by jointly sponsored pension plans are not guaranteed by the Guarantee Fund. 2014, c. 7, Sched. 26, s. 13; 2017, c. 34, Sched. 33, s. 32 (1). Same, for trade union (6) The administrator shall give notice of the proposed conversion to any trade union that represents members of the pension plan, and the notice must be given within the prescribed period and must contain the information specified by the regulations. 2014, c. 7, Sched. 26, s. 13. Requirement re: consent of members, etc. (7) The conversion of the pension plan is not authorized unless the members, former members, retired members and other persons entitled to benefits under the plan consent to the conversion, or are deemed in accordance with the regulations to have consented to the conversion. 2014, c. 7, Sched. 26, s. 13. Same (8) The consent of the members, former members, retired members and other persons entitled to benefits under the pension plan to the proposed conversion of the plan must be obtained in accordance with such requirements as may be prescribed by regulation, and the regulations may permit a trade union that represents members of the pension plan to consent on their behalf. 2014, c. 7, Sched. 26, s. 13. Same (9) The regulations may authorize the Chief Executive Officer to vary the prescribed requirements for determining whether consent is given or is deemed to have been given by the members of the pension plan, and to vary the prescribed requirements for obtaining their consent. 2014, c. 7, Sched. 26, s. 13; 2018, c. 8, Sched. 23, s. 23. Notice to Chief Executive Officer (10) The administrator shall give notice of the proposed conversion to the Chief Executive Officer and the notice must be given within the prescribed period and must contain the information specified by the regulations. 2014, c. 7, Sched. 26, s. 13; 2018, c. 8, Sched. 23, s. 23. Requirement re: consent of Chief Executive Officer (11) The conversion of the pension plan is not authorized unless the Chief Executive Officer consents to it in advance. 2014, c. 7, Sched. 26, s. 13; 2018, c. 8, Sched. 23, s. 23. Application for consent (12) The employer may apply for the Chief Executive Officer’s consent to the proposed conversion of the pension plan. 2014, c. 7, Sched. 26, s. 13; 2018, c. 8, Sched. 23, s. 24. Notice of application (13) The administrator shall ensure that notice of the application for the Chief Executive Officer’s consent is given to members, former members, retired members and other persons entitled to benefits under the plan, and to any trade union that represents members of the plan, in accordance with such requirements as may be prescribed. 2014, c. 7, Sched. 26, s. 13; 2018, c. 8, Sched. 23, s. 24. Waiver or variation of certain provisions of the regulations (13.1) The Chief Executive Officer may, if he or she considers it appropriate in the circumstances, waive or vary the application of any provision of the regulations that is made for the purposes of subsection (5), (6), (10) or (13) or any Authority rule made for the purpose of any of those subsections. 2019, c. 14, Sched. 9, s. 37; 2020, c. 34, Sched. 18, s. 5. Statutory criteria for Chief Executive Officer’s consent (14) The Chief Executive Officer shall consent to the conversion of the pension plan in accordance with the application if all of the following criteria and such other criteria as may be prescribed are satisfied: 1.  Notice of the application for the Chief Executive Officer’s consent has been given in accordance with this section to the members, former members, retired members and other persons entitled to benefits under the plan, and to any trade union that represents members of the plan. 2.  Notice of the proposed conversion has been given in accordance with this section to the members, former members, retired members and other persons entitled to benefits under the plan, to any trade union that represents members of the plan and to the Chief Executive Officer. 3.  Consent to the proposed conversion has been given or is deemed to have been given, in accordance with this section, by the members, former members, retired members and other persons entitled to benefits under the plan. 4.  The effective date of the conversion has been determined in accordance with the regulations. 5.  As of the effective date of the conversion, the commuted value of the pension benefits provided for the members is not less than the commuted value of their pension benefits under the single employer pension plan. 6.  As of the effective date of the conversion, the pension benefits provided for former members, retired members and other persons entitled to benefits under the plan are, at a minimum, the same as their pension  benefits under the single employer pension plan. 7.  If the plan has a going concern unfunded liability, solvency deficiency or reduced solvency deficiency as of the effective date of the conversion, the employer is required to make contributions in accordance with the regulations to liquidate the liability or deficiency. 2014, c. 7, Sched. 26, s. 13; 2017, c. 34, Sched. 33, s. 32 (2); 2018, c. 8, Sched. 23, s. 23, 24. Conflict (15) This section prevails over any document that creates and supports the pension plan and over any collective agreement and it prevails despite any trust that may exist in favour of any person. 2014, c. 7, Sched. 26, s. 13. Crown immunity (16) The following rules apply with respect to the conversion of the pension plan, if the conversion complies with this Act and the regulations: 1.  Any reduction in the amount or the commuted value of a pension benefit, an ancillary benefit, a pension or a deferred pension that results from the conversion is deemed not to constitute an expropriation. 2.  No amount on account of damages, compensation or costs is owing or payable to any person and no remedy is available to any person against the Crown in connection with the conversion. 3.  No action, claim or demand that is directly or indirectly related to the conversion may be brought or maintained against the Crown. 2014, c. 7, Sched. 26, s. 13. Expenses incurred by trade union (17) If a trade union that represents members of the pension plan is entitled to vote on the conversion on behalf of the members, the trade union is entitled to be reimbursed from the pension fund its reasonable fees and expenses, of the type that are prescribed, relating to the vote. 2014, c. 7, Sched. 26, s. 13. Order to return contributions (18) If the conversion of the pension plan does not comply with this Act or the regulations, the Chief Executive Officer may, by order, require the administrator to pay to a member of the pension plan from the pension fund the amount by which the member’s contributions, made on or after the effective date of the conversion, exceed the amount that would have been payable by him or her if the conversion had not been implemented, with interest calculated in the prescribed manner. 2014, c. 7, Sched. 26, s. 13; 2018, c. 8, Sched. 23, s. 23. Enforcement (19) Subject to section 89, an order under subsection (18), exclusive of the reasons therefor, may be filed in the Superior Court of Justice and is thereupon enforceable as an order of that court. 2014, c. 7, Sched. 26, s. 13. Section Amendments with date in force (d/m/y) 2014, c. 7, Sched. 26, s. 13 - 01/11/2015 2017, c. 34, Sched. 33, s. 32 (1, 2) - 01/05/2018 2018, c. 8, Sched. 23, s. 23, 24 - 08/06/2019 2019, c. 14, Sched. 9, s. 37 - 10/12/2019 2020, c. 34, Sched. 18, s. 5 - 08/12/2020 Note: On a day to be named by proclamation of the Lieutenant Governor, the Act is amended by adding the following section: (See: 2017, c. 34, Sched. 33, s. 33) Conversion to Target Benefits Conversion by amending the pension plan 81.0.2 (1) This section applies if some or all of the benefits provided by a multi-employer pension plan are proposed to be converted to target benefits, and the proposal is to implement the conversion by amending the pension plan. 2017, c. 34, Sched. 33, s. 33. Criteria (2) Benefits may only be proposed to be converted if all of the following criteria are satisfied: 1.  The benefits proposed to be converted are not defined contribution benefits. Note: On the day section 33 of Schedule 33 to the Stronger, Fairer Ontario Act (Budget Measures), 2017 comes into force, paragraph 1 of subsection 81.0.2 (2) of the Act is repealed and the following substituted: (See: 2020, c. 36, Sched. 37, s. 18 (1)) 1.  The benefits proposed to be converted are not determined on an individual account basis. Note: On the day section 33 of Schedule 33 to the Stronger, Fairer Ontario Act (Budget Measures), 2017 comes into force, subsection 81.0.2 (2) of the Act is amended by adding the following paragraphs: (See: 2020, c. 36, Sched. 37, s. 18 (2)) 1.1  The pension plan is a multi-employer pension plan established pursuant to a collective agreement or a trust agreement. 1.2  The benefits proposed to be converted are determined in part with reference to contributions made to the plan and the interest on the contributions. The benefits must satisfy this criterion both before and after the payments of the pension begin. 2.  The obligation of participating employers to contribute to the pension fund in respect of the benefits proposed to be converted is limited to a fixed amount set out in one or more collective agreements. Note: On the day section 33 of Schedule 33 to the Stronger, Fairer Ontario Act (Budget Measures), 2017 comes into force, paragraph 2 of subsection 81.0.2 (2) of the Act is repealed and the following substituted: (See: 2020, c. 36, Sched. 37, s. 18 (3)) 2.  Either of the following circumstances exists: i.  The obligation of an employer to contribute to the pension fund in respect of the benefits proposed to be converted is limited to a fixed amount set out in one or more collective agreements and the pension plan satisfies such conditions as may be prescribed. ii.  The obligation of an employer to contribute to the pension fund in respect of the benefits proposed to be converted is limited to a fixed amount set out in one or more documents, other than a collective agreement, that create and support the plan and the pension plan satisfies such conditions as may be prescribed. 3.  The administrator is authorized under the pension plan to reduce the benefits proposed to be converted, both while the plan is ongoing and upon wind up. 4.  The reduction referred to in paragraph 3 is not prohibited by the terms of any applicable collective agreement. 5.  The reduction referred to in paragraph 3 is not prohibited by any applicable pension legislation of a designated jurisdiction, except as provided by the regulations. 6.  The benefits proposed to be converted satisfy such other criteria as may be prescribed. 7.  The pension plan satisfies such other criteria as may be prescribed. 2017, c. 34, Sched. 33, s. 33. Note: On the day section 33 of Schedule 33 to the Stronger, Fairer Ontario Act (Budget Measures), 2017 comes into force, section 81.0.2 of the Act is amended by adding the following subsection: (See: 2020, c. 36, Sched. 37, s. 18 (4)) Time limit for application to convert to target benefits (2.1) Benefits shall not be converted to target benefits unless the administrator’s application for consent under subsection (12) is made before the fifth anniversary of the day on which subsection 18 (4) of Schedule 37 to the Protect, Support and Recover from COVID-19 Act (Budget Measures), 2020 comes into force. 2020, c. 36, Sched. 37, s. 18 (4). Restriction re: filing of amendments (3) Amendments to the pension plan to convert benefits to target benefits shall not be filed under section 12 until the requirements of this section are satisfied. 2017, c. 34, Sched. 33, s. 33. Requirement re: proposed conversion (4) A proposal to convert defined benefits provided by a pension plan to target benefits must propose to convert all defined benefits provided by the plan that satisfy the criteria set out in subsection (2). 2017, c. 34, Sched. 33, s. 33. Requirement if not all defined benefits qualify (5) If not all of the defined benefits that a pension plan provides satisfy the criteria set out in subsection (2), the defined benefits that satisfy the criteria shall not be converted under this section except in accordance with the prescribed requirements. 2017, c. 34, Sched. 33, s. 33. Notice of proposed conversion (6) The administrator shall give notice of the proposed conversion to the members, former members, retired members and other persons entitled to benefits under the plan, in accordance with such requirements as may be prescribed and the notice must contain such information as may be prescribed. 2017, c. 34, Sched. 33, s. 33. Same, for trade union (7) The administrator shall give notice of the proposed conversion to any trade union that represents members of the pension plan, and the notice must be given within the prescribed period and must contain the information specified by the regulations. 2017, c. 34, Sched. 33, s. 33. Same, participating employers (8) The administrator shall give notice of the proposed conversion to participating employers, and the notice must be given within the prescribed period and must contain the information specified by the regulations. 2017, c. 34, Sched. 33, s. 33. Requirement re consultation with trade union (9) The administrator shall consult in good faith about the proposed conversion, in accordance with such requirements as may be prescribed, with any trade union that represents members of the pension plan. 2017, c. 34, Sched. 33, s. 33. Notice to Chief Executive Officer (10) The administrator shall give notice of the proposed conversion to the Chief Executive Officer and the notice must be given within the prescribed period and must contain the information specified by the regulations. 2017, c. 34, Sched. 33, s. 33; 2018, c. 8, Sched. 23, s. 10. Requirement for Chief Executive Officer’s consent (11) The proposed conversion is not authorized unless the Chief Executive Officer consents to it in advance. 2017, c. 34, Sched. 33, s. 33; 2018, c. 8, Sched. 23, s. 10. Application for consent (12) The administrator may, in accordance with such requirements as may be prescribed, apply for the Chief Executive Officer’s consent to the proposed conversion and the application must contain the information specified by the regulations. 2017, c. 34, Sched. 33, s. 33; 2018, c. 8, Sched. 23, s. 10. Notice of application (13) The administrator shall ensure that notice of the application for the Chief Executive Officer’s consent is given to members, former members, retired members and other persons entitled to benefits under the pension plan, to participating employers and to any trade union that represents members of the plan, in accordance with such requirements as may be prescribed. 2017, c. 34, Sched. 33, s. 33; 2018, c. 8, Sched. 23, s. 10. Statutory criteria for Chief Executive Officer’s consent (14) The Chief Executive Officer shall consent to the proposed conversion in accordance with the application if all of the following criteria, and such other criteria as may be prescribed, are satisfied: 1.  Notice of the proposed conversion has been given in accordance with this section to the members, former members, retired members and other persons entitled to benefits under the plan, to the participating employers and to any trade union that represents members of the plan and to the Chief Executive Officer. 2.  Notice of the application for the Chief Executive Officer’s consent has been given in accordance with this section to the members, former members, retired members and other persons entitled to benefits under the pension plan, to the participating employers and to any trade union that represents members of the plan. 3.  The criteria set out in subsection (2) are satisfied. 4.  The administrator has consulted with trade unions in accordance with subsection (9). 5.  The effective date of the conversion has been determined in accordance with the regulations. 2017, c. 34, Sched. 33, s. 33; 2018, c. 8, Sched. 23, s. 10. Cancellation, etc. of special payments (15) If, before the effective date of the conversion, the pension plan has a solvency deficiency or reduced solvency deficiency in respect of the benefits converted, the regulations may specify circumstances in which any requirement to make special payments on or after the effective date of the conversion in respect of that solvency deficiency or reduced solvency deficiency is cancelled or the amount of the special payments is reduced, and the regulations may impose conditions relating to the cancellation or reduction. 2017, c. 34, Sched. 33, s. 33. Conflict (16) This section prevails over any document that creates and supports the pension plan and over any collective agreement and it prevails despite any trust that may exist in favour of any person. 2017, c. 34, Sched. 33, s. 33. Crown immunity (17) No cause of action arises against the Crown, or any of the Crown’s ministers, agents, appointees and employees, as a direct or indirect result of, (a)  the enactment of this section; or (b)  the making of any regulations under this section. 2017, c. 34, Sched. 33, s. 33. Same (18) Without limiting the generality of subsection (17), that subsection applies to an action or other proceeding claiming any remedy or relief, including specific performance, injunction, declaratory relief, any form of compensation or damages, including compensation or damages for a reduction in the amount or the commuted value of a pension benefit, an ancillary benefit, a pension or a deferred pension, or any other remedy or relief. 2017, c. 34, Sched. 33, s. 33. Proceedings barred (19) No proceeding, including but not limited to any proceeding in contract, restitution, tort, trust, fiduciary obligation or otherwise, that is directly or indirectly based on or related to anything referred to in clause (17) (a) or (b) may be brought or maintained against the Crown or any of the Crown’s ministers, agents, appointees and employees. 2017, c. 34, Sched. 33, s. 33. Not an expropriation (20) Any reduction in the amount or the commuted value of a pension benefit, an ancillary benefit, a pension or a deferred pension that results from the conversion is deemed not to constitute an expropriation. 2017, c. 34, Sched. 33, s. 33. Section Amendments with date in force (d/m/y) 2017, c. 34, Sched. 33, s. 33 - not in force 2018, c. 8, Sched. 23, s. 10 - 08/06/2019 2020, c. 36, Sched. 37, s. 18 (1-4) - not in force 81.1 Section Amendments with date in force (d/m/y) 2010, c. 9, s. 71 - no effect - see Table of Public Statute Provisions Repealed Under Section 10.1 of the Legislation Act, 2006 - 31/12/2020 2018, c. 8, Sched. 23, s. 11 - 08/06/2019 Pension Benefits Guarantee Fund