Ontario pension changes could mean policy fix

Legislative change may come into effect July 1, but could have an impact on terminations now
By Melissa Mancini
|Canadian Payroll Reporter|Last Updated: 04/03/2012

A legislative change to Ontario pension rules slated to come into effect July 1 could impact the terminations employers are making now.

Pension grow-in benefit rules — which currently only apply to employees affected by a plan windup — will start applying to more employees.

 “A grow-in benefit, as it’s known, in essence grants certain benefits to employees who might not have met the eligibility criteria for those benefits,” said Paul Litner, a lawyer at Osler, Hoskin and Harcourt in Toronto.