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The Pension Benefits Standards Act (the "PBSA") and the Pension Benefits Standards Regulation apply to all British Columbia employment pension plans. The PBSA is designed to protect the interests of British Columbia pension plan members by setting minimum standards for British Columbia pension plans. The minimum standards apply in areas such as eligibility, vesting, portability, survivor benefits, employer contributions, disclosure to members, and other areas. The PBSA is also designed to protect the financial health of pension plans through rules for investment of a plan's assets, and through funding and solvency standards.
This brochure highlights key provisions of the PBSA, and will assist you in understanding how these provisions may affect your pension plan. As you read through the information that follows, bear in mind that this brochure is not a legal document. It is intended only as a guide to the provisions of the PBSA.
If you have further questions about your entitlements or obligations, talk to your employer or pension plan administrator, or contact your union representative.