The Ontario Retirement Pension Plan (ORPP) is an unprecedented new mandatory provincial pension plan that represents the provincial government's "made-in-Ontario" solution for expanding pension coverage for eligible employees in that province. Proposed legislation enacting the ORPP was introduced by the Ontario government last year, along with an ORPP consultation paper on key design questions, and recently passed second reading.
A survey of businesses shows that implementation of the Ontario Retirement Pension Plan could have negative consequences for employment in Ontario, says the Ontario Chamber of Commerce.
66% of Ontario companies say they might...
A slight majority of HR professionals aren't in favour of the proposed Ontario Retirement Pension Plan, finds a Human Resources Professionals Association survey.
Sixty-six percent of Ontario companies may consider eliminating their existing DC or group registered retirement savings plan if the Ontario Retirement Pension Plan is introduced, according to a survey.
By 2017, all Ontario employees could have access to the Ontario Registered Pension Plan.
The Ontario Retirement Pension Plan could have significant implications for employers that currently sponsor retirement plans deemed to be non-comparable, says Osler's Pension & Benefits Law blog.
The Ontario Retirement Pension Plan is based on the "faulty assumption" that most residents of the province aren't ready for retirement, says the Fraser Institute's Charles Lammam in a Financial Post opinion piece.
The Canadian life and health insurance industry is extremely disappointed with the suggestion in the Ontario government's consultation paper on the Ontario Retirement Pension Plan that existing workplace plans, such as DC plans, would not be considered "comparable."
The Government of Ontario has released a consultation paper on the Ontario Retirement Pension Plan.