Ottawa Unveils Proposal for New Pension Arrangement: Target Benefit Pension Plans

Minister of State for Finance Kevin Sorenson announced today, during a speech at the Economic Club of Canada, that the government will hold public consultations with the goal of creating a legislative framework for target benefit pension plans, or shared-risk pension plans. The new voluntary type of plan would be available to Crown corporations and to all federally-regulated private sector employees including those in Canada’s banking sector, telecommunications sector, etc. The proposal currently doesn’t apply to federal public service pension plans.

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Ottawa unveils proposal for target benefit pension plans.