Pension Changes Announced

Ontario is moving ahead with the first pension changes in 20 years, aimed at creating a system that will be better able to withstand economic turmoil.

The changes will clarify benefits for people who are affected by layoffs, eliminate partial pension windups, and make it easier for plans to restructure when companies do.

Finance Minister Dwight Duncan says the legislation will also enhance regulatory oversight and make it easier for plan members and pensioners to access information.