Mandate to provide ongoing advice to the government pension reform proposals and keep the government informed on stakeholder viewpoints.
Toronto (31 July 2009) – The government of Ontario announced yesterday the establishment of a new 13-member Advisory Council on Pensions and Retirement Income.
The government announced its intention to set up an Advisory Council in its March 2009 budget. The Council was one of the recommendations of the Ontario Experts Commission on Pensions (OECP), headed by well respected arbitrator Harry Arthurs.
It called on the government to ‘establish a new government agency – a ‘Pension Champion’ – that would assume responsibility for collecting and disseminating reliable information about the pension system, for thinking creatively about new pension strategies and policies, and for working with stakeholders to improve the pension system.” The Commission’s report released in November 2008 has been widely viewed as a balance between the interests of employers, unions and plan members.
With a mandate until March 31, 2011, the Council will provide ongoing advice to the government pension reform proposals and keep the government informed on stakeholder viewpoints.
With the number of seniors projected to more than double in Canada over the next 30 years, the government has stated that it plans to move ahead with long-term reforms to strengthen the pension system for Ontarians along the lines of many of the recommendations made by the OECP in its final report released in
"Pension reform and the broader issue of retirement income adequacy are key priorities for the McGuinty government and represent some of the defining issues of our generation”, noted Finance Minister Dwight Duncan in announcing the Council. “This Council will help ensure the government's reforms are informed by a balance of stakeholder perspectives and the best possible expertise."
The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 340,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE