UPDATE 1-Ontario pushing 'national solution' to pension reform

Thu Apr 14, 2016 1:07pm EDT
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* Ontario to introduce legislation for new pension plan

* Province also pushing for enhanced federal plan

* Other provinces could adopt similar approach

* More talks over "national solution" set for June (Adds comment from Ontario finance minister on pension reform)

By Matt Scuffham

TORONTO, April 14 (Reuters) - Ontario, Canada's most populous province, will continue to push for a national solution to pension reform while pressing ahead with plans to introduce a new provincial pension scheme, its finance minister said.

Ontario said on Thursday it was introducing legislation to ensure all 4 million workers in the province are enrolled in the new Ontario Retirement Pension Plan or a comparable workplace pension plan by 2020.

The refusal of the previous federal Conservative government to change the Canada Pension Plan (CPP) had prompted Ontario's Liberal government to go out on its own to boost retirement security for residents but the election of a federal Liberal government in October opened the door to new cooperation.

"We're going down both tracks at this point because we don't want to delay what's critical, which is to try to find a solution for Ontario workers who don't have a pension plan," Ontario Finance Minister Charles Sousa told reporters.   Continued...