TORONTO – Premier Kathleen Wynne says she will increase access to retirement pension plans for Ontario’s private sector workers if re-elected on June 7.
The Liberals say just a third of all Ontario workers are part of a pension plan, while only a quarter of young workers, aged 25 to 34, are part of one.
Wynne says her party would support the creation of portable pension plans that workers could retain and take with them when moving between jobs in the same field.
She says the Liberals will also increase the power of pension regulating authorities to intervene when Ontarians believe they are not receiving the pension benefits they were promised.
The premier further pledged to grant access to existing private sector pension plans to workers, such as contractors or part-timers, who may not currently qualify for them.
Wynne says that while previous generations of Ontarians could expect to work at one company throughout their career and retire with a decent pension, today’s workers are more likely to change jobs and experience gaps in retirement coverage.