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ARTICLE · 04 APRIL 2012

Ontario Releases A Pension-Heavy 2012 Budget

Blake, Cassels & Graydon LLP
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On March 27, 2012, the Ontario government released the 2012 Ontario Budget, titled "Strong Action for Ontario" (the Budget).

CanadaEmployment and HR
Pension & Employee Benefits Group
Pension & Employee Benefits Group
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OVERVIEW

On March 27, 2012, the Ontario government released the 2012 Ontario Budget, titled "Strong Action for Ontario" (the Budget). Included in the Budget are a wide array of proposals that relate to pension matters.

Highlights of the Budget include a number of proposals aimed at reducing the costs of public-sector pension plans, a suggestion that the federal government's pooled registered pension plan (PRPP) model should be tied to Canadian Pension Plan (CPP) enhancement, new proposals to affect private-sector pension plans, and a status update respecting previously announced pension reform.

Whether this Budget will pass is uncertain at this time. The initial Conservative reaction is to vote against it. The NDP have said that they will consult with Ontarians before deciding how to proceed.

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