Why is the government announcing pension reform now?
In the 2009 Ontario Budget, the government committed to introduce pension reform legislation in the fall of 2009. This bill is part of a multi-step process to update and improve the employment pension system. Further legislation is planned for 2010. It has been more than 20 years since there has been pension reform of this magnitude in Ontario. These proposed reforms would help the pension system adapt to economic changes while balancing the need for benefit security. The government’s reforms build on the recommendations in the report of the Expert Commission on Pensions.
