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This enactment improves the protection of the assets of pension plan
members and beneficiaries by
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(a) ensuring that they have substantial representation on boards of
trustees, pension committees and pension councils;
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(b) putting into the Act a 10% limit on the amount of pension assets
that may be held in the securities of the employer (the limit is
presently in the regulations);
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(c) preventing members and beneficiaries from being restricted in
trading the employer's securities unless the directors and officers are
similarly restricted, and in any event for not for more than a year; and
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(d) protecting members and beneficiaries by providing that they
must receive information that will or may affect the value of
securities at the same time it is released to anyone other than the
directors, officers, management and advisors of the employer.
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