Thank you, Mr. Chair.
My name is Kathleen Wrye. I'm the acting director of the pensions policy team at Finance Canada.
This division proposes legislative amendments as part of the establishment of a revised framework for multi-employer negotiated contribution pension plans. Negotiated contribution plans are a type of defined benefit plan in which contributions are fixed by an agreement, and employers are required to contribute only the amount set out in the agreement.
The proposed amendments to the Pension Benefits Standards Act are part of this revised framework. They would establish new safeguards, uphold benefit security for these plans through requirements for them to establish and maintain governance and funding policies, and grant new regulation-making powers to the Governor in Council with respect to those requirements and with respect to amendments to negotiated contribution plans.
I'm happy to take any questions.