ON – Provincial government to put forward additional pension reforms

The Ontario Minister of Finance has announced that the province will be proposing a broad package of reforms this fall with respect to Ontario’s pension system. The changes, which arise out of recommendations made by the Experty Commission on Pensions, will focus on sustainable funding for benefits and tougher funding standards for benefit improvements. Changes will also be proposed for the province’s Pension Benefits Guarantee Fund to make the fund more sustainable.

The government press release announcing the reform package is available on the Ministry of Finance Web site at  http://www.news.ontario.ca/mof/en/2010/08/further-strengthening-pensions.html.

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