Ontario PC leader John Tory says, if elected, he will give Ontario’s retirees access to their locked-in pension income beginning at age 55.
Under his plan, seniors would gain access to 50% at age 55 and the remaining 50% at age 65.
“We can, and must, do more for our senior citizens,” Tory says. “This means adopting policies that put fairness for seniors first,”
He also indicated that when the Ontario Expert Commission on Pensions reports back in the summer of 2008, he will move quickly to implement its recommendations.
Alberta, Saskatchewan, Manitoba and New Brunswick have already changed their laws to enable older adults to access some, or all, of their locked-in pension.
Recently, Ontario announced it would introduce a new Life Income Fund. To read Ontario Changes Pension Locking-in Provisions, click here.
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