ON – Province Proposes Pension Reform Measures

The province of Ontario has announced a number of measures to reform employment pensions in the province. The measures, which will affect both plan members and pensioners, as well as plan sponsors, include provisions for immediate vesting, improved access to information by pensioners, the elimination of partial wind-ups, and allowing the amendment of plan rules to permit phased retirement.

A Backgrounder listing some of the proposed changes is available on the Ontario Finance Web site at http://news.ontario.ca/mof/en/2009/12/ontarios-proposed-pension-reforms.html.

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