Consultations Contributing To A Stronger Pension System In Ontario
TORONTO, Oct. 16 /CNW/ - The Ontario Expert Commission on Pensions will
hold a series of public hearings as part of the first review of provincial
pension laws in 20 years, said Chair of the Commission Harry Arthurs.
"Ontarians are entitled to pension legislation that is fair and
up-to-date," Finance Minister Greg Sorbara said. "The Pension Benefits Act was
a leader when it was enacted in 1986, but has lost pace with other
jurisdictions and the changing pension environment, and it is important that
we look at ways to modernize the rules for plan members and pensioners."
The Ontario Expert Commission on Pensions was appointed in late 2006 to
review the province's Pension Benefits Act, the rules governing the funding,
deficits and surpluses of defined benefit pension plans, and other issues
relating to the security, viability and sustainability of the pension system
"We are working to ensure that pension benefits in Ontario are secure,
while balancing the rights and obligations of plan sponsors, members and
pensioners," said Commissioner Arthurs. "We are also concerned with
maintaining the affordability of defined benefit pension plans for both
members and sponsors throughout the province."
The commission is holding public hearings in Ontario during October and
November 2007, and has invited written and oral submissions from stakeholders
in the pension system including plan sponsors, members and pensioners, unions
and other representative organizations, plan administrators, pension
professionals, academic, community and other groups, and employers, workers,
retirees and other interested Ontarians.
Public hearings are scheduled for the JPR meeting rooms, 3rd floor, 390
Bay St. in Toronto on October 17, 18, 23 and 24. The hearings are at the Metro
Toronto Convention Centre, 255 Front St. in meeting room 205 D on October 19.
Further hearings are scheduled for:
October 31 Kingston
November 1 Ottawa
November 6 Sudbury
November 7 Toronto
November 13 Hamilton
November 14 Toronto
November 15 Windsor
The commission will submit its review to the Ontario Minister of Finance.
Disponible en francais
For more information call 416 325-7523 or visit www.pensionreview.on.ca
For further information:
For further information: Scott Blodgett, (416) 325-0324