Ontario has established an expert commission to seek input regarding ways to keep the province’s pension system sustainable and ensure that Ontarians can rely on their pensions.
It will be the first review of pension laws in 20 years.
“Ontarians are entitled to pension legislation that is fair and up to date,” says Finance Minister Greg Sorbara. “This review will ensure than plan members and pensioners know that their contributions are protected by a modern set of rules and that Ontario remains a competitive place to do business.”
The panel will review Ontario’s pension system to determine how best to ensure that plan members and pensioners have plans they can rely upon through consultation with individuals and groups across the province.
The chair is academic and labour law expert Harry Arthurs. The other panel members are: Bob Baldwin, a consultant and former research director at the Canadian Labour Congress; Kathryn Bush, a lawyer in the pension and employee benefits group of Blake, Cassels and Graydon; Murray Gold, a lawyer with Koskie Minsky who practices in pension and employee benefits, and related insolvency law; and Ian Markham, director of pension innovation at Watson Wyatt Worldwide.
The panel is expected to report back in the summer of 2008.
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