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ARTICLE · 03 MAY 2017

2017 Ontario Budget – Pension and Retirement Savings Issues

Blake, Cassels & Graydon LLP
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On April 27, 2017, the Ontario government tabled its 2017 budget (Budget), which included a number of pension and other retirement savings plans-related provisions.

CanadaEmployment and HR
Blakes Pensions, Benefits & Executive Compensation Group
Blakes Pensions, Benefits & Executive Compensation Group
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On April 27, 2017, the Ontario government tabled its 2017 budget (Budget), which included a number of pension and other retirement savings plans-related provisions. On that same day, the government introduced Bill 127, An Act to implement Budget measures and to enact, amend and repeal various statutes, which, if passed, will implement certain provisions of the Budget.

CANADA PENSION PLAN

Ontario noted its role in the Canadian Pension Plan changes.

POOLED REGISTERED PENSION PLANS

The government noted that on November 8, 2016, Ontario's Pooled Registered Pension Plans Act, 2015 was proclaimed into force, and in early 2017, Ontario signed onto a federal-provincial multilateral agreement to harmonize the administration and supervision of pooled registered pension plans across various jurisdictions.

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