OTTAWA - Changes announced in the federal budget to help federally regulated pension plans came into effect on Friday.
"These measures will help protect pension benefits while allowing companies more flexibility in meeting their pension obligations," Finance Minister Jim Flaherty said in a statement.
The changes offer pension plan sponsors a chance to extend the payment period to fund solvency deficits.
Ottawa has held cross-country consultations on reforms to federal pension regulations.
The Conservative government has promised a report to Parliament with recommendations in June, and the introduction of long-term pension reform legislation by the end of the year.
