Fair & Just Society

Stronger and More Secure Pension Plans

Amend the Ontario Pension Benefits Act to require all defined benefit pension plans to have a funding target of 105% of their calculated liabilities, including all plan features. Having this small positive funding-level target would provide a buffer against adverse deviation during hard financial times. The current economic downturn left many plans with unexpected shortfalls because they did not build up their reserves ...more »

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Fair & Just Society

Bring Transparency to Pension Plans

Amend the Ontario Pension Benefits Act to make it mandatory to evaluate all defined benefit pension plans annually, and to file these valuations with FSCO within 6 months of the valuation date. Currently, pension plan health need only be revealed to members once every 3 years if a single valuation shows it can cover at least 85% of its liabilities. This is inadequate in today’s fast-changing economic environment, and ...more »

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92 votes