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ARTICLE · 25 MAY 2017

Ontario Pension Reform: Expanding Superintendent Powers And Improving Retirement Security

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In April the Ontario Government released its 2017 Budget (Budget) together with Bill 127, Stronger, Healthier Ontario Act (Budget Measures) (Bill).

CanadaEmployment and HR
Susan Nickerson
Susan Nickerson
Thomas Stevenson
Thomas Stevenson
Brad Tartick
Brad Tartick
Caitlin Morin
Caitlin Morin
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The 2017 Ontario Budget and Bill 127 contain numerous initiatives aimed at pension reform

In April the Ontario Government released its 2017 Budget (Budget) together with Bill 127, Stronger, Healthier Ontario Act (Budget Measures) (Bill). On May 17, the Bill received royal assent, and some of its provisions are now in force. This bulletin highlights the expanded powers of the Superintendent of Financial Services contained in the Bill, as well as a number of other future pension-related regulatory and legislative commitments contained in the Budget. These commitments include changes to the pension solvency funding regime, introduction of regulations regarding multi-employer target benefit pension plans and capabilities with respect to defined contribution (DC) pension plans.

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