Ontario's new pension plan short on economic details, chambers of commerce say

Ontario's chambers of commerce are calling for more details on the province's new retirement pension plan, outlining their concerns in a letter addressed to the provincial government Wednesday.

The chamber asks the provincial government about the economic impact of the Ontario Retirement Pension Plan, saying high electricity rates, a new cap-and-trade system and high workplace safety premiums already make it costly to do business in Ontario.

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More than 100 chamber members and representatives from Ontario's business community signed on to the letter, including the Windsor-Essex Regional Chamber of Commerce.

"Our concern is the overall structure (of the pension plan) and the rising cost of doing business in Ontario," said Matt Marchand, the president and CEO of the Windsor-Essex Regional Chamber of Commerce.

"We're looking for more specifics on the economic impact of what this pension plan might be to Ontario, what the cost of business will be going forward," Marchand said. "It's less than 18 months away, we're still looking for some answers."