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Ontario to continue push to enhance Canada federal pension plan

Published 2016-04-14, 11:46 a/m
© Reuters. Ontario to continue push to enhance Canada federal pension plan

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."

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