Make private and public corporations responsible for funding their pension commitments within a reasonable time, such as 2 to 5 years.
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 »
I am just looking for equity to what members of parliament received before rules were put in place. They were allowed to transfer all locked-in retirement income accounts over to an RRSP say at age 55. I know it is pension money but allow us to manage our own retirement. Allowing us to transfer over the money into a RRSP would also allow us to plan our retirement a little easier.
How come when private companies outsource everyone says its bad but when government does it to Ontarians its ok? Outsourcing is wrong... Period. People need good jobs with pensions and benefits not contract positions with nothing to end the cycle. Government should be an example of what is RIGHT not what is wrong. (and I don't work for Ontario PS BTW)