Bill 174 explained in plain English
Pension Benefits Amendment Act, 2014
Ontario legislature bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Legislative Assembly of Ontario snapshot for 40th Parliament, 2nd Session. Representative vote breakdowns appear when the Assembly publishes an Ayes and Nays page for the bill.
Our plain-language take, written for civic education.
Source: By PoliticalData.ca
The Pension Benefits Amendment Act, 2014, increases the monthly amount guaranteed by the Pension Benefits Guarantee Fund from $1,000 to $2,500.
Bill 174, also known as the Pension Benefits Amendment Act, 2014, amends the Pension Benefits Act. It changes the Pension Benefits Guarantee Fund to increase the maximum monthly amount it guarantees from $1,000 to $2,500. This change affects the amount of pension or pension benefit, including bridging supplements, that is covered.
- Amends the Pension Benefits Act.
- Increases the maximum monthly amount guaranteed by the Pension Benefits Guarantee Fund from $1,000 to $2,500.
- Changes the description of what the Pension Benefits Guarantee Fund covers in relation to pension amounts and bridging supplements.
- Specifies that the Act comes into force on the day it receives Royal Assent.
- Pension plan members and beneficiaries whose pensions may be covered by the Pension Benefits Guarantee Fund.
- Pension plan administrators.
- The Superintendent of Financial Services (as the administrator of the Pension Benefits Guarantee Fund).
- The Pension Benefits Guarantee Fund guarantees pension benefits up to $2,500 per month, or a greater amount prescribed by regulations, including bridging supplements.
- The Act comes into force on the day it receives Royal Assent.
- The Pension Benefits Guarantee Fund's coverage limit is increased from $1,000 to $2,500 per month.
- The exact amount guaranteed may be higher than $2,500 per month if prescribed by regulations, but the bill text does not specify these prescribed amounts.
- The bill does not detail how the increase in the guarantee amount will impact the funding or administration of the Pension Benefits Guarantee Fund.
This bill amends the Pension Benefits Act, specifically changing provisions related to the Pension Benefits Guarantee Fund.
Source: Bill 174, Section 1
This section of the Pension Benefits Act is repealed and replaced by new wording that specifies the amount of pension or pension benefit, including bridging supplements, in excess of $2,500 per month or a greater prescribed amount.
Source: Bill 174, Section 1
Generated using AI from official bill text. Not legal advice. It is written by PoliticalData.ca for civic education, automatically checked and spot-reviewed before publishing.
Official textProcess Snapshot
Vote Summary
This bill is still active. We only show vote counts after the legislature publishes a recorded division.
No published representative vote breakdown
This bill is still moving through the process. When a recorded division is published, representative positions can be listed here.
Official sources
Status, sponsor, votes, and timeline on this page are drawn from these official legislative sources and public records. Each summary above is attributed to its own source.
How this data is sourced