Bill 68: Target Benefit Pension Plans
Bill 68 “ An Act mainly to allow the establishment of target benefit pension plans” was tabled in the Quebec National Assembly on October 7, 2020. A number of companies and unions have been waiting several years for this bill, which meets a need by adding a new option to Quebec’s existing retirement savings vehicles. Previously, the target benefit plan was only available to a few companies in the pulp and paper industry.
The bill will come into force on the date it receives royal assent.