Target Benefit Plans: A New Type of Plan Now Available to All Quebec Businesses
Bill 68 seeks to amend provisions of the Supplemental Pension Plans Act to allow Quebec businesses to set up target benefit pension plans and thus enhances the toolbox of sustainable pension plans.
On October 7, Quebec’s Minister of Finance tabled Bill 68 titled “An Act mainly to allow the establishment of target benefit pension plans.” This bill, which many have been waiting for, seeks to amend many provisions of the Supplemental Pension Plans Act (SPPA) to allow Quebec businesses to set up target benefit (TB) pension plans and thus enhances the toolbox of sustainable pension plans. Bill 68 also touches on other aspects, which are discussed in a separate Information Bulletin.