Proposed Pension Reforms in Ontario
On December 9, 2009, the Government of Ontario tabled legislation proposing changes to the provincial system governing private pensions.
Bill 236 stems from recommendations of the 2008 Ontario Expert Commission on Pensions.
The reforms in the Bill include:
•Clarifying the benefits of plan members affect by lay-offs and eliminating partial wind-ups
•Facilitating the restructuring of pension plans affected by corporate reorganizations
•Increasing transparency and access to information for plan members and pensioners
•Enhancing regulatory oversight
•Improving plan administration and reducing compliance costs
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We are continuing to analyze the proposed changes. Stay tuned for more information and implications for Defined Benefit and Defined Contribution pension plan sponsors.