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Ontario advances DC-to-JSPP framework, helping to strengthen retirement security for more workers
Proposed changes would address obstacles to pension plan conversions, giving more Ontarians access to strong, sustainable pension arrangements.
University Pension Plan Ontario (UPP) welcomes the Government of Ontario’s continued progress to reduce barriers to converting single-employer defined contribution (DC) pension plans into jointly sponsored pension plans (JSPPs), reflected in the 2026 Fall Economic Statement.
The measure reflects a policy priority UPP has raised to make JSPPs more accessible. We commend the Ontario government for taking steps to address aspects of the conversion process that can add unnecessary cost and complexity, helping to extend the stability and security of defined benefit (DB) JSPPs to more Ontario workers.
What’s changing?
Building on the DC-to-JSPP conversion and transfer framework established in November 2025, Ontario is proposing further amendments to the Pension Benefits Act (PBA)that will give employers and employee groups a more flexible pathway to transfer into a JSPP.
The proposed amendments would allow an employer to move groups of DC plan members to a JSPP for future service accruals, while also permitting those members to convert and transfer their existing DC account balances. This builds on the PBA’s options for employers with DC pension plans, which include a full plan conversion and transfer, as well as individual member account transfers after the employer joins a JSPP. Together, these changes allow individuals and groups within a participating DC plan to transfer to a JSPP without requiring all members to participate or that the existing plan be closed and wound up.
Following stakeholder consultations, Ontario is also moving forward with supporting regulatory changes, which will take effect January 1, 2027. The proposed conversion process is built around a default transfer model with an opt-out period, helping to streamline the conversion process while preserving individual choice.
“These changes are an important step forward for Ontario’s pension system and for employers considering the move to a jointly sponsored pension plan. Reducing these barriers can make a meaningful difference in extending the stability and benefits that these plans offer to more Ontario workers, and we welcome conversations with universities interested in exploring how the Plan can help strengthen retirement security for their employees.”
Barbara Zvan
UPP’s President and Chief Executive Officer
UPP welcomes the province’s ongoing leadership to improve the policy and regulatory environment for pension plan conversions. We look forward to continuing to work with government and sector partners to enhance access to strong, sustainable pension arrangements for workers across the province.
Media Contact
Kelly Conlon
Managing Director, Strategic Communications and External Relations
[email protected]
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