Acts and Regulations

2025, c.8 - An Act to Repeal the Pension Plan Sustainability and Transfer Act

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2025, c.8
An Act to Repeal the
Pension Plan Sustainability and Transfer Act
Assented to June 6, 2025
His Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:
Repeal of the Pension Plan Sustainability and Transfer Act
1The Pension Plan Sustainability and Transfer Act, chapter 42 of the Acts of New Brunswick, 2023, is repealed.
Repeal of regulation under the Pension Plan Sustainability and Transfer Act
2New Brunswick Regulation 2024-3 under the Pension Plan Sustainability and Transfer Act is repealed.
TRANSITIONAL PROVISIONS
Definitions
3The following definitions apply in this section and in sections 4 to 6.
“administrator” means(administrateur)
(a) the administrator of a transferring plan, or
(b) the administrator of a receiving plan.
“authority” means the person appointed to serve as the Sustainable Pension Plan Authority under subsection 12(1) of the repealed Act.(autorité)
“Board” means the Labour and Employment Board established under the Labour and Employment Board Act.(Commission)
“Minister” means the Minister of Finance and Treasury Board and includes any person designated by the Minister to act on the Minister’s behalf.(ministre)
“parties” means the parties prescribed under section 4 of the repealed regulation.(parties)
“receiving plan” means a receiving plan as defined in the repealed Act.(régime cessionnaire)
“repealed Act” means the Pension Plan Sustainability and Transfer Act, chapter 42 of the Acts of New Brunswick, 2023.(loi abrogée)
“repealed regulation” means New Brunswick Regulation 2024-3 under the Pension Plan Sustainability and Transfer Act.(règlement abrogé)
“Superintendent” means the Superintendent of Pensions appointed under the Financial and Consumer Services Commission Act and includes persons to whom the Superintendent or the Financial and Consumer Services Commission has delegated powers and duties under that Act or the Pension Benefits Act.(surintendant)
“transferring plan” means a pension plan prescribed under section 3 of the repealed regulation.(régime cédant)
“Tribunal” means the New Brunswick Energy and Utilities Board continued under section 3 of the Energy and Utilities Board Act.(Tribunal)
Revocation of appointment of the authority
4(1)The appointment of the authority is revoked.
4(2)No action or other proceeding lies or shall be instituted against the Crown in right of the Province or the Minister as a result of the revocation of the appointment of the authority under subsection (1).
Validity of orders and decisions
5(1)Despite section 24 of the repealed Act, on and after the commencement of this section, the following orders and decisions are deemed to be in force and effective:
(a) the order of the Superintendent dated January 30, 2023, in respect of the Pension Plan for General and Service Employees of New Brunswick Nursing Homes, established effective April 1, 1982, and registered with the Superintendent as NB.0447938, as amended;
(b) any order made by the Tribunal or the Board in respect of the order of the Superintendent referred to in paragraph (a); and
(c) any decision of an arbitrator or arbitration board appointed or established in accordance with a collective agreement or an act other than this Act for the purpose of arbitrating a dispute with respect to a transferring plan between an employer participating in the transferring plan and the bargaining agent for the employees participating in that plan.
5(2)No action or other proceeding lies or shall be instituted against the Crown in right of the Province or the Minister as a result of the deeming of the orders and decisions referred to in paragraphs (1)(a), (b) and (c) to be in force and effective.
Immunity
6(1)No action or other proceeding lies or shall be instituted against any of the following persons for anything done or purported to be done in good faith by any of them or for anything omitted in good faith by any of them in the exercise or intended exercise of a power or duty under the repealed Act from December 13, 2023, to the commencement of this subsection, inclusive:
(a) the Crown in right of the Province;
(b) the Minister;
(c) the authority;
(d) the parties and their agents, advisors and representatives; and
(e) the administrators and their agents, advisors and representatives.
6(2)No action or other proceeding lies or shall be instituted against any of the following persons as a result of the repeal of the Pension Plan Sustainability and Transfer Act, chapter 42 of the Acts of New Brunswick, 2023:
(a) the Crown in right of the Province;
(b) the Minister;
(c) the authority;
(d) the parties and their agents, advisors and representatives; and
(e) the administrators and their agents, advisors and representatives.