Addressing her provincial and territorial counterparts gathered for the annual Council of the Federation, Ontario Premier Kathleen Wynne discussed Pension reform and called it a smart public policy and perceptive electoral politics. Encouraged by her unexpected majority election victory on June 12, Wynne is expected to present her Ontario government’s research, including an internal poll, on the importance of improving retirement security.
During the election campaign period, the Liberals’ primary campaign promise was a new Ontario Retirement Pension Plan, which will complement the Canada Pension Plan, since Prime Minister Stephen Harper has straightforwardly refused to amend the CPP even though the maximum annual benefit is only about $12,000. By sharing the information, Wynne is hopeful that her recent electoral success will encourage other premiers to launch their own provincial schemes or perhaps increase the pressure on Harper to boost CPP. Currently, Quebec is the only province that has its own pension plan and now Ontario’s plan is scheduled to be phased in as of 2017.