Ontario to continue push to enhance Canada federal pension plan

Thu Apr 14, 2016 11:46am EDT
 
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TORONTO, April 13 (Reuters) - Ontario, Canada's most populous province, said on Thursday it would continue to lobby for an expansion of Canada's federal pension plan while pushing ahead with plans to introduce a new scheme of its own.

Ontario said 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.

Sousa said he would meet with counterparts in other provinces in June. An enhancement to the CPP would require support from two-thirds of provinces representing two-thirds of the population.

"There seems to be again a lack of desire by certain provinces to proceed so we are going to meet in June," Sousa said. "We are looking for ways to move forward with a greater national solution to this problem." (Reporting by Matt Scuffham; Editing by Bill Trott)