Ontario blazes provincial pension plan trail

But small business warns new plan could create financial burden for employers
By Sabrina Nanji
|Canadian HR Reporter|Last Updated: 02/25/2014

If Ontario’s intentions for a provincial pension plan move forward, workers will have another means to bolster their nest eggs. But some employers say if the provincial plan goes ahead, they won’t be able to keep their heads above water.

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

While details of the Ontario pension plan have yet to be released, the government has struck a panel of pension experts — headed by former prime minister Paul Martin — to finalize the details.