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Alert: 2020 Ontario Budget – Pensions Update

November 10, 2020

On November 5, 2020, the Ontario government tabled its 2020 budget (Budget), which included a number of pension-related provisions regarding target benefits and a review of the Pension Benefits Guarantee Fund. On the same day, the government introduced Bill 229, Protect, Support and Recover from COVID-19 Act (Budget Measures), 2020 (Bill 229), which, if passed, will implement certain provisions of the Budget.

For further details on the Budget and Bill 229, please tune in to our Fall Pensions Webcast Series: Regulatory Round-up and Family Law Challenges: A Year in Review for Pension Plan Administrators on November 18, 2020.

If you have questions, please reach out to a member of our Pensions, Benefits & Executive Compensation group or your usual Blakes contact.