The pace of pension reforms in Ontario has been fast-moving since the release of the Ontario Budget on March 28, 2018. Among other things, the Budget announced continued work on the new funding rules for defined benefit pension plans and related increases to coverage under the Pension Benefits Guarantee Fund, a consultation on a new funding framework for target benefit multi-employer pension plans, consultations regarding new protections for plan members affected by employer insolvencies, and continued work on the new pension and financial services regulator, the Financial Services Regulatory Authority.
On August 11, 2015, the Ontario government made additional announcements regarding the Ontario Retirement Pension Plan (ORPP), which is expected to be introduced in 2017.
But who's going to explain them to you? Or maybe more importantly, who's going to explain whether the changes mean anything to you?