More Ontario employees are participating in workplace pension plans, but many haven’t taken steps to help determine if they’re on track to retire comfortably.
That’s the word from the Financial Services Regulatory Authority (FSRA) of Ontario which, as Pension Awareness Day is marked, is urging workers and employers take a closer look at how workplace pensions fit into long-term retirement security plans.
Whie FSRA data shows Ontario’s pension plan participation grew by more than 200,000 in 2025 compared to the year prior, there remains a gap in retirement readiness – something that indicates many workers, with or without pension plans, are not taking the basic steps to prepare for life after work.
Sylvie Charest, FSRA’s head of Pension Strategic Initiatives, says 80 percent of respondents to a FSRA poll don’t have a developed retirement plan.
Charest says when one looks forward to his her or retirement, “it’s really important to not be surprised.”
FSRA is offering three keys to retirement security – understand your pension plan, stay engaged and informed reviewing statements and communication with plan administrators, and plan head, considering how your pension plan fits into retirement goals.
(Written by: Paul Rellinger)
