![Teachers’, OMERS encouraged by Ontario economic statement](https://www.benefitscanada.com/wp-content/uploads/sites/7/2010/12/ontario-map-e1540326506363.jpg)
The Ontario Teachers’ Pension Plan and OMERS are pleased with the Government of Ontario’s decision to modernize investment rules for large pension plans.
The government plans to allow pension plans to further invest in Ontario infrastructure by exempting their investments in certain Ontario public infrastructure projects from the rule limiting ownership in a single corporation to 30% of voting shares.
“We see this as an important step in the right direction,” says Michael Nobrega, president and CEO of OMERS Administration Corp. “It will facilitate and simplify the ability of pension funds to invest in Ontario infrastructure.”
Ontario will also provide plan administrators with greater flexibility to pursue investment strategies that allow a better match with plan liabilities through an exemption to the limit in the current rule for certain government-issued, inflation-indexed securities.
“These investments will assist us in ensuring the long-term sustainability of our plan,” according to a statement from Teachers’. “We look forward to working with the Ministry [of Finance] on these new regulations.”