You are here

Business

Pension fund strengthened

Ontario is implementing changes it first announced in 2010, and reaffirmed in the 2011 budget, by strengthening the Pension Benefits Guarantee Fund (PBGF) to help protect pensioners.

Beginning Jan. 1, the government will:

•establish a minimum assessment level of $250 for each covered plan;

•raise the base fee per plan member from $1 to $5;

New strategies needed for real recovery

Pessimism about our economy rarely pays off in the long run.

Time and time again when we were feeling particularly glum, things turn around before we reach any kind of disaster.

While that record is worth noting, Canadians and our counterpart south of the border are despondent. There can be no mistaking the decidedly subpar character of the current economic recovery.

OSB interest rate re-set

The Ontario government announced last week the interest rate for the Variable-Rate Ontario Savings Bonds (OSBs) will be re-set at 1.00 percent for the next six months.

The rate reset applies to Variable-Rate Bonds purchased from 2005-08.

The next rate reset will occur on June 21, 2012 and will be reset semi-annually until maturity.