What do Drake and the Ontario Retirement Pension Plan (ORPP) have in common?
The Liberal government is taking a page from the Canadian rapper’s playbook and is using the acronym YOLO— for “you only live once,” which the superstar helped popularize—to promote its pension plan.
New radio ads compare the ORPP acronym to YOLO, LOL for laugh out loud and BRB for be right back.
Before signing off with a cheerful TTYL—meaning talk to you later—the ad says acronyms are designed to help, and ORPP will help workers in Ontario.
The plan, to be introduced in 2017, has been touted by the Liberal government as means to guarantee Ontarians without a workplace pension a predictable, lifelong source of retirement income.
Critics call the pension plan a “job-killing payroll tax,” saying it will mean job losses as businesses try to absorb the additional costs for each worker.