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ARTICLE · 06 MAY 2014

Ontario Government Committed To Improving Pensions Through Extensive And Innovative Measures

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The 21st century workforce needs a modern retirement income system, but Ontario and Canada have a 20th century system in place.

CanadaEmployment and HR
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Paul Litner
Paul Litner
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"The 21st century workforce needs a modern retirement income system, but Ontario and Canada have a 20th century system in place. That is why Ontario is taking a leadership role in addressing this pressing issue."

On May 1st, the Ontario government presented its Budget for 2014 (the Budget). Chapter IV "Strengthening Retirement Security in Ontario" makes it clear that pensions are a government priority and perhaps even an election issue.

In this Budget, Ontario has taken a leadership role in proposing some innovative and thoughtful solutions to address the ongoing problems of pension adequacy and coverage. Public understanding of the importance of a sound retirement system is increasing. The government appears to appreciate the importance of this issue to the electorate, as well as the broader policy issues.

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