Ontario to revamp state pension regulations

The premier of Ontario has proposed a series of reforms to modernise the Canadian state’s pension system, including measures aimed at ensuring sustainable funding of benefits, resolving disputes over surplus distribution, and granting C$500 million (£305 million) to the reserves of the Ontario Pension Benefit Guarantee Fund (PBGF).

The reforms will require the use of market interest rates to value plan liabilities, limit the actuarial value assets to within 20% of market value and require the in