HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:

1 Section 1 (1) of the Pension Benefits Standards Act, R.S.B.C. 1996, c. 352, is amended

(a) in paragraph (a) of the definition of "administrator" by repealing subparagraph (i) and substituting the following:

(i) a multi-employer plan,

(A) a board of trustees referred to in section 7 (1), or

(B) in relation to a multi-employer plan prescribed for the purposes of the definition of "pension plan", a prescribed person or entity, or ,

(b) by repealing the definition of "employee" and substituting the following:

"employee" means

(a) an individual who is employed to do work or provide a service in British Columbia or in a designated province and in receipt of or entitled to remuneration for the work or service, and

(b) in relation to a multi-employer plan prescribed for the purposes of the definition of "pension plan", includes an individual performing work or providing a service on a prescribed basis; ,

(c) by repealing paragraph (a) of the definition of "employment" and substituting the following:

(a) except as provided in paragraph (a.1), in relation to a multi-employer plan, an employee's employment with an employer for which the employer is required by the plan to make contributions to that plan on the employee's behalf,

(a.1) in relation to a multi-employer plan prescribed for the purposes of the definition of "pension plan",

(i) an employee's employment as described in paragraph (a), or

(ii) an employee's employment on a basis prescribed for the purposes of paragraph (b) of the definition of "employee", or , and

(d) in the definition of ' "pension plan" or "plan" ' by striking out "except in the case of a supplemental pension plan," and substituting "except in the case of a supplemental pension plan or a prescribed multi-employer plan,".

2 Section 6 is amended by striking out "imposed by this Act," and substituting "imposed under this Act,".

3 Section 40 is amended

(a) in subsection (2) by striking out "has a physical disability that is likely to considerably shorten the person's life expectancy," and substituting "has a disability or terminal illness that is likely to considerably shorten the person's life,", and

(b) by repealing subsection (3) and substituting the following:

(3) For a person to be eligible to make an election under a provision described in subsection (2), the person must provide the certification of a medical practitioner that the illness or disability is likely to considerably shorten his or her life.

4 Section 42 (1) is amended by striking out "or" at the end of paragraph (d) and by adding the following paragraph:

(d.1) in relation to a multi-employer plan prescribed for the purposes of the definition of "pension plan", a prescribed person or entity, or .

5 Section 74 (2) is amended by adding the following paragraphs:

(k.1) if regulations are made under paragraph (k) exempting the multi-employer plan prescribed for the purposes of the definition of "pension plan" from provisions of this Act, establishing, in relation to that plan, different obligations or entitlements respecting matters dealt with by those provisions;

(r) prescribing a single multi-employer pension plan for the purposes of the definition of "pension plan".

Commencement

6  This Act comes into force by regulation of the Lieutenant Governor in Council.

 
Explanatory Notes

SECTION 1: [Pension Benefits Standards Act, section 1] amends the definitions of "administrator", "employee", "employment" and "pension plan" as required for their application in relation to a multi-employer plan that has characteristics different from those currently required or described under the Act.

SECTION 2: [Pension Benefits Standards Act, section 6] makes a housekeeping amendment.

SECTION 3: [Pension Benefits Standards Act, section 40] adds a terminal illness that is likely to considerably shorten a person's life as a ground for unlocking a pension.

SECTION 4: [Pension Benefits Standards Act, section 42] authorizes that a pension fund prescribed for the purposes of the definition of "pension plan" may be held by a prescribed person or entity.

SECTION 5: [Pension Benefits Standards Act, section 74] authorizes regulations

• imposing a different requirement than the Act imposes on pension plans if a pension plan is exempted from the Act requirement, and
• prescribing one multi-employer pension plan for the purposes of the definition of "pension plan".