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Bill C-474

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SUMMARY

This enactment improves the protection of the assets of pension plan members and beneficiaries by

    (a) ensuring that they have substantial representation on boards of trustees, pension committees and pension councils;

    (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);

    (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

    (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.