TORONTO - Ontario is considering temporary relief measures to help strengthen pensions amid a global economic crisis.
Finance Minister Dwight Duncan says he will give more authority to the pension regulator to oversee the plans.
The moves come on the heels of an expert report that found current procedures are too slow and cumbersome for people who must switch pension plans or those left with none at all.
The report released today makes 142 recommendations, including creating a new government agency that would collect and hand out information about pension plans as well as helping making the development of large plans easier.
It also suggests the government consider expanding the Canada Pension Plan or creating a comparable provincial plan to enhance coverage and control costs.
There are more than 7,500 pension plans registered in Ontario with about two million members.
