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ARTICLE · 26 AUGUST 2010

Phase 2 of Ontario Pension Reform

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

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On August 24, 2010, Ontario introduced several proposals for further reform of Ontario’s pension legislation that will address another 40 recommendations from the Expert Commission on Pensions.

CanadaEmployment and HR

Copyright 2010, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Pension & Employee Benefits, August 2010

INTRODUCTION

On August 24, 2010, Ontario introduced several proposals for further reform of Ontario's pension legislation that will address another 40 recommendations from the Expert Commission on Pensions. The proposals are summarized below. To view the Ministry of Finance's Press Release, click here. To view the Technical Backgrounder, click here.

The government also said it will continue discussion with federal and provincial counterparts to provide a modest expansion of the Canada Pension Plan. They are also working on that separate collaborative track to permit financial institutions to sponsor defined contribution pension plans without the precondition of an employee/employer relationship. As part of this separate track, they will also consider other innovations in defined contribution arrangements, such as autoenrolment,

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