Majority of Torontonians support ORPP

Read: Ontario demands feds co-operate on ORPP

“Conservative candidates in Toronto may want to be careful when discussing Kathleen Wynne’s pension plan—Torontonians overwhelmingly support her plan over Stephen Harper’s criticisms in all areas of the city,” says Mainstreet president Quito Maggi.

Currently, the ORPP consultation paper says workers already participating in a DB or target benefit multi-employer pension plan wouldn’t be required to participate in the ORPP while those in a DC plan would have to contribute to the ORPP as they’re not considered “comparable.”

Read: CPP enhancement, ORPP could reduce voluntary savings: Report

Last week, Associate Minister of Finance Mitzie Hunter said the details of the plan design is something is continuing to work on and it is “working towards providing those details soon.”

A number of business groups including the Ontario Chamber of Commerce oppose the ORPP. It believes employers who offer non-comparable retirement savings plans might choose to reduce the contributions in non-comparable plans to offset the new costs incurred by the new pension plan.

Also read:

• Wynne promotes ORPP’s advantages
• ORPP opposition builds
• What you need to know about the ORPP