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As part of Ontario’s 2025 Fall Economic Statement, the Government of Ontario announced measures to modernize the province’s pension landscape by expanding the Jointly Sponsored Pension Plan (JSPP) conversion framework.
This represents a significant advancement for retirement security and a meaningful step toward expanding access to defined benefit pensions across the province. Jointly sponsored pension plans like UPP share governance and risk between employers and members, providing secure, predictable income in retirement and contributing to the economic health of Ontario’s communities. By enabling DC-to-JSPP conversions, the province is helping more Ontarians benefit from the sustainability and scale that these plans offer.
This announcement reflects recommendations UPP has advanced to strengthen Ontario’s retirement system, in close collaboration with government and sector partners.
“Improving access to defined benefit pensions is a meaningful and timely step forward for Ontario workers. Jointly sponsored pension plans (JSPPs) share risk and governance, delivering sustainable, predictable income in retirement. That income doesn’t just benefit individual members – it supports families, strengthens communities, and contributes to the economic health of our province. We commend the government for its leadership in advancing legislation that enables DC-to-JSPP conversions, and for recognizing that modern, stable pension solutions are vital to supporting Ontario’s workforce and economy.”
Barbara Zvan
President and CEO, University Pension Plan
UPP welcomes the province’s leadership in advancing this framework and looks forward to continued collaboration to strengthen retirement outcomes for Ontario’s workforce.
Read the Government of Ontario announcement here.
Media Contact
Kelly Conlon
Managing Director, Strategic Communications and External Relations
[email protected]
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