Ontario blazes provincial pension plan trail

But employers warn new plan could create financial burden
By Sabrina Nanji
|Canadian Labour Reporter|Last Updated: 02/18/2014

If the government’s intentions for a provincial pension plan go ahead, workers in Ontario will have another means to bolster their nest eggs — but some employers say they will not be able to keep their heads above water.

At the end of January, Ontario Premier Kathleen Wynne announced the government would blaze the trail and introduce details of its own pension plan this spring. The move came about after the federal government balked at an attempt to expand the Canada Pension Plan (CPP).

While details of what an Ontario pension plan might look like have yet to be released (think the size of the contributions and what benefits will be paid out), the government has struck a panel of pension experts, headed by former prime minister Paul Martin, to finalize the details.