Ontario Liberals make changes to retirement premiums for 2017

 

Ontario civil servants will pay more toward retirement benefits

Public sector employees retiring in 2017 and later will pay half of their benefits premiums

The Canadian Press Posted: Feb 18, 2014 6:54 PM ET Last Updated: Feb 18, 2014 6:54 PM ET

 Ontario Finance Minister Charles Sousa says managing compensation costs “is essential to ensuring sustainable public services that Ontarians rely on.” (CBC)

The cash-strapped governing Liberals are going to require Ontario civil servants to pay more for their retirement benefits.

The government says public sector employees retiring in 2017 and later will have to pay half of their benefits premiums for life, health, dental and vision coverage. Currently, the government pays 100 per cent of the premiums.

It says it will also change the eligibility period for retiree benefits to 20 years from 10 for workers who get hired from 2017 on.

The government says current retirees won’t be affected by the changes, which it says will bring their benefits in line with other public sector organizations. (for the full article click the link  LINK  )

Advertisements
%d bloggers like this: