The Ontario Pension Board, administrator of the Public Service Pension Plan (PSPP), and the CAAT Pension Plan say their members will be exempt from the Ontario Retirement Pension Plan (ORPP).
On Tuesday, the Government of Ontario said DB plans were considered comparable if they meet a minimum benefit accrual rate of 0.5%.
Part-time employees in the college system not enrolled in the CAAT Plan will be required to participate in the ORPP, but not until the final wave of implementation beginning in 2020.
Read: Opinions divided over DC plan exemption from ORPP
“This enables the CAAT Plan and its participating employers enough time to continue educating non-members so they can make an informed choice between joining the ORPP or the CAAT Plan,” says the CAAT Pension Plan.
In its submission to the government regarding the ORPP made earlier this year, CAAT argued that part-time employees with immediate access to a comparable pension plan be exempt from participating in the provincial plan.
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