The provinces of Alberta and British Columbia are collaborating to review important pieces of legislation that set standards for pensions.

The review is another example of Alberta and British Columbia breaking down barriers and taking a collaborative approach to bring positive change for residents in both provinces.

Pension review

An independent expert panel has been appointed to conduct a review of Alberta's Employment Pension Plans Act and British Columbia’s Pension Benefits Standards Act.

This legislation sets minimum standards for benefits, funding, investments and disclosure in private-sector employee plans. The goal of the review is to modernize and align the two provinces’ legislation so that it is up to date and meets the needs of employees, employers and plan administrators.

The panel will consider an aging workforce, funding issues and other important factors in its review.

Over the course of the review, the panel will gather written submissions, consult with stakeholders, and submit a written report of its findings and recommendations to both finance ministers by November 14, 2008.

Public sector pension plans will be excluded from the scope of this review.

Those interested in the review can find more information at www.ab-bc-pensionreview.ca