Ontario Government Warning about Hydro Pension Plans

Special Alert

http://www.sunnewsnetwork.ca/sunnews/politics/archives/2014/08/20140804-103550.html

TORONTO – Pension plans in Ontario's electricity sector are "far from sustainable" and increase the risk of further hydro rate hikes, warns a quietly released Ontario finance ministry report.

Posted to the ministry's website Friday, the 45-page report was penned by special adviser Jim Leech and dated March 18, 2014.

Leech said the pension plans for public electricity bodies, including Hydro One and Ontario Power Generation, are "generous, expensive and inflexible" when compared to other public sector plans.

"The employers bear all risks, such as investment performance, interest rate changes and increased longevity," he wrote of the plans. "

 

Ted Wernham
Ted Wernham
Ranked # 1 in London by MDRT, the Premier Association of Financial Professionals. retirement income manager, Host Retirement Ready! Radio on AM1290 Ted Wernham