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ARTICLE · 03 APRIL 2012

Ontario Budget: Implications For Private And Public Sector Pensions

Osler, Hoskin & Harcourt LLP
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The Ontario government’s 2012 Budget, released yesterday, includes a number of announcements which will be of interest to administrators of both private and public sector pension plans.

CanadaEmployment and HR
Paul Litner
Paul Litner
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The Ontario government's 2012 Budget, released yesterday, includes a number of announcements which will be of interest to administrators of both private and public sector pension plans.

Some Good News for Private Sector Employers

The government recognized that as a result of ongoing market volatility and low interest rates many private sector defined benefit plans continue to struggle with solvency funding deficits. In response, the government announced an extension of the temporary solvency funding relief measures introduced in 2009. Employers will also be permitted to begin amortization of solvency and going concern special payments one year after a plan valuation date. These changes will go into effect when filing the first actuarial valuation report dated on or after September 30, 2011.

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