NUPGE's Larry Brown welcomes first review of pension laws in 20 years
Toronto (9 Nov. 2006) – The Ontario government has established an 'expert commission' to review the province’s pension system and determine the best way to ensure that members and retirees have pensions they can count on in the future.
Through consultation with individuals and groups across the province, the commission will solicit advice and recommendations on how best to safeguard the existing system and ensure that it remains sustainable.
Announced by Finance Minister Greg Sorbara Thursday, the review will focus on:
- maintaining and encouraging the system of defined benefit pension plans in Ontario;
- maintaining the affordability of defined benefit pension plans for both members and sponsors;
- the importance of pension plans in supporting a competitive economy;
- the need to safeguard the security of pension benefits;
- the need to balance the rights and obligations of employers, plan members and pensioners; and
- the impact of demographics and the changing nature of the workforce on pensions.
Harry Arthurs
The commission will be chaired by noted academic and labour law expert Harry Arthurs, who less than two weeks ago delivered a long-awaited progressive report to the federal government on reform of Part III of the Canada Labour Code. Arthurs recommended a sweeping overhaul of many of the weak and antiquated federal labour standards contained in the Code.
Also appointed to the commission is Bob Baldwin, who will be a keynote speaker at an upcoming Pensions Working Session organized by the 340,000-member National Union of Public and General Employees. It begins Nov. 19 in Toronto. A former research director for the Canadian Labour Congress, Baldwin specializes in pensions, aging society and labour market issues.
Other commission members include Kathryn Bush, a lawyer in the pension and employee benefits group of Blake, Cassels and Graydon, and a former vice-chair of the Financial Services Tribunal and the Pension Commission of Ontario; Murray Gold, a lawyer with Koskie Minsky, who practices in pension and employee benefits and related insolvency law; and Ian Markham, director of pension innovation at Watson Wyatt Worldwide, an actuarial consulting firm.
Larry Brown
“We’re pleased to see the creation of this expert commission,” says Larry Brown, NUPGE's national secretary-treasurer. “In recent years there has been a calculated campaign by corporate Canada and the pensions industry to undermine defined benefit plans, the best form of pension plans. So it’s welcome news that a central focus of this Commission will be devoted to the importance of maintaining and encouraging the system of defined benefit pension plans.”
Brown added:
"There are some well qualified individuals appointed to this commission who understand the importance of a quality workplace pension system to workers and the overall health of our economy. We hope this Commission will come up with a number of positive recommendations to improve pension coverage for the Ontario workforce.” NUPGE
More information:
Ontario Expert Commission on Pensions
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