Ontario workers deserve secure and sustainable pensions. This is why the government is continuing to deliver on its commitments to strengthen Ontario’s pension system through stronger plan governance, long-term plan sustainability, and new opportunities for workers to consolidate their pension assets and enhance their retirement security.
Expanding the Jointly Sponsored Pension Plan Conversion Framework
As profiled in the 2025 Ontario Economic Outlook and Fiscal Review, the government is evolving Ontario’s pension landscape by enabling new pathways for defined contribution pension assets to be moved by plan sponsors into jointly sponsored pension plans (JSPPs). These changes would allow plan members to consolidate their pension benefits and access the advantages of JSPPs, including their strong track record of efficiency and good governance, as well as the lifetime retirement income security provided by a defined benefit pension.
The proposed framework changes would provide plan sponsors with greater flexibility and support smoother pension transactions, reducing administrative complexity and providing clear and understandable options for members.
The government has extensively consulted stakeholders on the proposed framework and is moving forward with the changes required to implement it, targeted to take effect on January 1, 2027. These measures would help protect Ontario workers by making workplace pensions stronger and more sustainable. They would also make it easier for pension plans to combine and expand access to reliable workplace pension coverage. A stronger pension system helps support a stronger, more resilient Ontario economy.
Ontario Municipal Employees Retirement System Governance Review Implementation Update
Following the 2025 legislative amendments to the Ontario Municipal Employees Retirement System (OMERS) Act, 2006, changes to OMERS’ governance are moving forward. Establishing a new OMERS Sponsors Council is intended to enhance plan governance and strengthen transparency and accountability. Implementation is ongoing, in consultation with sponsors and stakeholders, to support a smooth transition.