Ontario is taking the next step to strengthen retirement income security by releasing the discussion paper “Securing our Retirement Future: Consulting with Ontarians on Canada’s Retirement Income System.” It outlines the challenges facing Ontarians and all Canadians who are seeking a stable and secure retirement income and the options available to them.

The discussion paper is part of a plan that includes:

·         Modernizing Ontario’s Pension Benefits Act to enhance reliability, security and affordability of employment-based defined benefit plans.

·         Supporting a modest and gradual increase to the Canada Pension Plan (CPP) to ensure that all Canadians have an improved pension.

·         Working with other governments and pension partners to develop new and innovative ways for Canadians to save for retirement.

Input received will contribute to Ontario’s position at the federal-provincial-territorial finance ministers’ meeting on December 20, 2010. 

Ontario’s plan to strengthen the retirement income system is part of the Open Ontario plan to create jobs and enhance the quality of life for all Ontarians.