Ontario looking for CPP reform rather than federal government's pooled registered pension plans, says Mitch Frazer in The Globe and Mail

Ontario Strikes a Blow to Ottawa's Pension Reforms

March 28, 2012

Ontario has dealt a blow to Ottawa's pension reform initiatives by slamming the federal government's effort to create pooled registered pension plans.‬ Ottawa has been working on PRPPs for some time, but provinces must pass legislation before the plans can get up and running.‬ ‪

The Ontario government decided to make its position on the matter clear in its 2012 budget Tuesday – and it was unequivocal. The province outlined a number of serious concerns, including the notion that PRPPs might simply replace other forms of retirement savings instead of growing the overall pie.‬

Ontario has long advocated for an expanded Canada Pension Plan as its preferred option for improving pension coverage, says pension expert Mitch Frazer. Now the province seems to be taking a tougher stance and is insisting on CPP reform in exchange for support for the PRPP program.‬

‪"Ontario is clearly drawing a line in sand and saying these PRPPs are not enough," Mitch said.‬

‪"I think they're probably just fed up with the federal government not doing anything on CPP [reform] and they're saying you give us CPP and then we'll do PRPPs."

Read the full article here.


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