NDP MPP French: Adopt AG’s recommendations to protect pensioners OSHAWA – Oshawa NDP MPP Jennifer French called on the Liberal government to adopt the pension plan recommendations in the Auditor General’s report in a letter to the Finance Minister earlier today. “In the past few months your government has spoken at length about retirement security,” said French, the NDP critic for Pensions. “But the level of underfunding in Ontario pension plans continues to rise.” The Auditor General’s report notes that 92% of all defined benefit pension plans in Ontario were underfunded at the start of this year, and over the past 8 years, the total amount of underfunding of these plans has grown from $22 billion to $75 billion. “This is a matter of grave concern across the province and specifically for General Motors’ employees in my riding,” said French. “Retirement security isn’t just about promising a benefit; it is also about ensuring that benefit is delivered.” MPP French’s letter to the Finance Minister can be found below.
Posted on: Wed, 17 Dec 2014 19:15:40 +0000
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