24 (1) The members and retired members of a pension plan, by the decision of a majority of them participating in a vote, may establish an advisory committee in accordance with such conditions and subject to such restrictions as may be prescribed.  R.S.O. 1990, c. P.8, s. 24 (1); 2010, c. 9, s. 11 (1, 2). Same (2) If members of the pension plan are represented by a trade union, the trade union may act on their behalf for the purpose of establishing an advisory committee.  2010, c. 9, s. 11 (3). Representation (3) The following rules govern the composition of the advisory committee: 1.  Each class of employees that is represented in the pension plan is entitled to appoint at least one representative to the advisory committee. 2.  If there is only one class of employees that is represented in the pension plan, that class is entitled to appoint at least two representatives to the committee. 3.  The retired members of the pension plan are entitled to appoint at least two representatives to the committee. 2010, c. 9, s. 11 (3). Same, former members (3.1) One or more former members of the pension plan may be appointed as representatives on the advisory committee. 2010, c. 9, s. 11 (3). Purposes (4) The purposes of an advisory committee are, (a)  to monitor the administration of the pension plan; (b)  to make recommendations to the administrator respecting the administration of the pension plan; and (c)  to promote awareness and understanding of the pension plan.  R.S.O. 1990, c. P.8, s. 24 (4); 2010, c. 9, s. 11 (4). Duties of the administrator (4.1) Upon receiving written notice from members, a trade union acting on their behalf, or retired members of their intent to establish an advisory committee, and if such conditions as may be prescribed are satisfied, the administrator shall do the following things to help them to establish the committee: 1.  Distribute the notice and such other information as may be prescribed to the members and retired members. 2.  Provide such other assistance as may be prescribed. 2010, c. 9, s. 11 (5). Same, to assist the committee (4.2) Once the advisory committee has been established, the administrator has the following duties: 1.  To meet with the committee as required by the regulations. 2.  To provide such assistance to the committee as may be prescribed to help the committee carry out its purposes. 3.  To give the committee or its representative such information as is under the administrator’s control and is required by the committee or the representative for the purposes of the committee. 2010, c. 9, s. 11 (5). Examination of records (5) The advisory committee or its representative has the right to examine the records of the administrator in respect of the administration of the pension plan and the pension fund and to make extracts from and copies of the records, but this subsection does not apply in respect of information as to the service, salary, pension benefits or other personal information related to any specific person without the person’s prior consent.  R.S.O. 1990, c. P.8, s. 24 (5). Application of section (6) This section does not apply, (a)  if the pension plan is administered by a pension committee at least one of the members of which is appointed by the members of the pension plan; (b)  in respect of a multi-employer pension plan established pursuant to a collective agreement; (c)  in respect of a jointly sponsored pension plan; or (d)  in respect of a pension plan that satisfies such criteria as may be prescribed. R.S.O. 1990, c. P.8, s. 24 (6); 2010, c. 9, s. 11 (6); 2016, c. 5, Sched. 22, s. 2 (1, 2). Costs of the committee (7) Such costs associated with the advisory committee as may be prescribed are payable out of the pension fund, subject to the prescribed restrictions. 2010, c. 9, s. 11 (7). Transitional matters (8) The regulations may provide for transitional rules for the application of this section and the regulations made under it to advisory committees that are established under this section before the day this subsection comes into force. 2016, c. 5, Sched. 22, s. 2 (3). Section Amendments with date in force (d/m/y) 2010, c. 9, s. 11 (1) - 01/07/2012;
2010, c. 9, s. 11 (2-7) - 1/01/2017 2016, c. 5, Sched. 22, s. 2 (1) - 19/04/2016; 2016, c. 5, Sched. 22, s. 2 (2, 3)
- 1/01/2017 Record Keeping and Disclosure Note: On a day to be named by proclamation of the Lieutenant Governor, the Act is amended by adding the following section: (See: 2020, c. 36, Sched. 37, s. 4) Duty to retain records 24.1 The administrator of a pension plan shall retain the prescribed records about the pension plan and the pension fund for the prescribed period of time. 2020, c. 36, Sched. 37, s. 4. Section Amendments with date in force (d/m/y) 2010, c. 9, s. 13
- no effect - see 2020, c. 36, Sched. 37, s. 25 - 08/12/2020 2020, c. 36, Sched. 37, s. 4 - not in force