The Healthcare of Ontario Pension Plan (HOOPP), OPTrust, and University Pension Plan (UPP) recently commissioned the Conference Board of Canada to analyze the economic impact of Defined Benefit (DB) pension plan payouts in Ontario. The results are impressive: Defined Benefit pensions not only provide Ontarians with better retirement outcomes but also benefit the entire Canadian economy.
In today’s environment, with many Canadians feeling unprepared for retirement and finding it difficult to save due to rising cost of living, DB pensions offer financial stability and peace of mind by easing the stress of retirement planning. Moreover, they are a significant driver of economic growth.
You can view highlights from the study and access the full Conference Board of Canada report HERE.
If you would like to learn more about Defined Benefit pension plans in the workplace or wish to request additional resources or education on this topic, please contact your Staff Representative or the OPSEU/SEFPO Pension & Benefits Unit at [email protected].