Premier Announces Technical Advisory Group
Ontario Government Improving Retirement Income Security
Premier Kathleen Wynne announced today that the Ontario government has assembled a new technical advisory group to advise the government on how to strengthen retirement income security for people across the province.
The Technical Advisory Group on Retirement Security is made up of six leading pensions experts from the public, private and non-profit sectors: Bill Morneau, Keith Ambachtsheer, David Denison, Susan Eng, Melissa Kennedy and Jim Keohane.
Alongside former Prime Minister Paul Martin, this group will advise the government on how to improve the retirement income system, including an Ontario-based alternative to a Canada Pension Plan (CPP) enhancement.
The government is moving forward with a made-in-Ontario solution to provide the province's hardworking people with the retirement security they deserve. This group will help the government develop a retirement plan that is viable, responsible and puts people first.
Helping people retire with dignity and security is part of the government's economic plan to invest in people, build modern infrastructure and support a dynamic and innovative business climate.
- The Right Honourable Paul Martin is working with the government as Special Advisor on Retirement Income Security.
- Many Ontarians, including middle- and higher-income earners, may not be saving enough to ensure comparable standards of living in retirement.
- Fewer than 35 per cent of workers in Ontario have a workplace-based pension plan. Coverage for workers in the private sector is even lower, with only 28 per cent having the benefit of plan membership.
“It is critical that we act now to improve retirement security. This technical advisory group will give us the guidance and insight we need to ensure we can protect the people of Ontario in their retirement. I want to thank all of our pensions experts for taking on this important responsibility.”
“Enhancing retirement income is critical to ensuring that Ontarians – particularly today’s middle-income earners – have great financial security. I look forward to working with this technical advisory group to develop a made-in-Ontario solution to lower costs in the long-term and ensure that today’s workers have a decent living standard when they retire.”