Public input sought in pension legislation
The P.E.I. government is looking for public input on pension legislation, Attorney General Gerard Greenan says.
Greenan said a pension act was passed in 1990 but never proclaimed. Officials with the Department of Justice looked over the bill and decided too many things had changed since it was passed to make the legislation workable in the current climate.
Greenan said the bill would need about 45 amendments to make it work, so a new bill is being drafted.
"We're aware that the issues that are usually raised when you look at this are where we have an inability of individuals to access some of their pension funds, lack of clear direction and authority for the investment industry that administers funds," he said.
"These are some of the things that are concerning to people and to administrators of funds."
Greenan said he wants input from pension plan members as well as administrators. Legislation is expected to be introduced during next year's fall sitting of the house.