Thursday, February 20, 2014

Retirement Benefits Changed

Retirement benefits for Ontario's civil service are being changed

Employees who retire on or after January 1, 2017 will be required to pay 50 per cent of their benefits premiums.

Currently the government pays the full cost.

Workers will also have to work 20 years, up from 10, to qualify for benefits.

The moves expect to save the province $1.2 billion over five years.