Ontario’s Bill 56, An Act to require the establishment of the Ontario Retirement Pension Plan (ORPP), received royal assent on Tuesday.
The bill requires the Government of Ontario to establish the ORPP no later than Jan. 1, 2017.
Read: What you need to know about the ORPP
Last month’s provincial budget didn’t disclose details on the ORPP plan design and the government said it was still considering feedback from its recent consultations.
The budget also unveiled details about its plan to create an arms-length organization to administer the plan, the ORPP Administration Corporation.
Also read:
- ORPP Administration Corporation details revealed
- ORPP consultation paper released
- What DC plan sponsors need to know about the ORPP
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Originally published on benefitscanada.com
ORPP:
Why do we as taxpayers want to have another mismanaged plan administered by the same province that overspent 1 billion dollars on the gas plant fiasco and has never provided complete disclosure. Is this the same government that will manage this new pension plan?
Wednesday, May 06 at 3:38 pm |