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Wilson continues to push for outstanding pension regulations for local workers

(February 26, 2013) Simcoe-Grey MPP Jim Wilson took to the floor of the legislature today to continue to advocate for Simcoe County paramedics and other local public service employees who have been seeking changes to the Pension Benefits Act. In a statement directed to the Minister of Finance, Wilson asked when Regulations will be introduced to allow for the transfer of pension assets.  For official hansard transcript click below.

Official Records for 26 February 2013 - HANSARD TRANSCRIPT

PENSION PLANS
 
Mr. Jim Wilson: My statement is directed to the Minister of Finance. It concerns the Pension Benefits Amendment Act and the regulations that are outstanding that would allow for the transfer of pension assets for roughly 10,000 public sector employees that are affected by past public sector divestments.
 
I rise for the 11th time on this issue, as my pleas have consistently been ignored. It has been almost three years since the Pension Benefits Amendment Act was passed in this Legislature, and the government has yet to introduce the needed regulations that would allow for the transfer of pension assets for public sector employees. While the government has said on multiple occasions that these regulations are a priority, the thousands of public sector employees that are affected continue to wait in limbo for the government to act.
 
In the most recent response to my correspondence from August 15, 2012, the then Minister of Finance states: “The regulations are a high priority for the government and we hope to be able to release them later this year.” It’s now over six months since the former minister made those comments.
 
This holdup is affecting real people like paramedics and former MPAC employees in my riding and across the province who have had their lives and retirement plans put on hold as they wait for these regulations. How in good conscience can the government deny these public sector workers pensions that they paid into over the years? Regulations need to be created now so this issue can be dealt with fairly and immediately.

 

 


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