As companies consider their options around the Ontario Retirement Pension Plan, national employers with staff who work in Ontario and other provinces face additional questions about what to do. Ian Howcroft, vice-president of on the Ontario division of Canadian Manufacturers & Exporters, has seen members of his organization face questions around internal equity since “now they’ll have a different requirement […]
Regardless of whether you agree with the Ontario Registered Pension Plan, you may find new ads from the Government of Ontario helpful for getting employees — especially millennials — thinking about retirement. The latest campaign for the ORPP pairs millennials with recent retirees for a skill swap. The campaign shows three millennials teaching retirees about their careers before sitting down with […]
Should you beef up your defined contribution pension plan or axe it and enrol in the Ontario Registered Pension Plan instead? What if your plan is non-comparable come 2020? Those were among the questions addressed by the cabinet minister heading up the ORPP at an event in Toronto on Wednesday. “I cannot predict the employer and employee response […]
While the Ontario Retirement Pension Plan has provoked some apprehension about a potentially negative impact on defined contribution pension plans, a Benefits Canada survey of plan sponsors suggests many of them are planning to maintain and even enhance their own offerings. In February and March, Benefits Canada, through the Canadian Institutional Investment Network, surveyed plan […]
Effective competition in workplace pensions could be the result
The Ontario Registered Pension Plan Administration Corp. will begin an extensive education campaign about the ORPP for employers this summer and a verification process for all companies enrolling in it as of Jan. 1, 2017, will begin in the fall. Marc Sharrett, director, strategic stakeholder relations, ORPP Implementation Secretariat at the Ministry of Finance, provided the update […]
Ontario employers may not be the only ones facing compliance with the Ontario Retirement Pension Plan as the provincial government has floated the option of allowing other provinces to join the plan as well. “We have provided for in the legislation that will be tabled later today the opportunity for other provinces to join,” said Associate Finance […]
A new bill for the Ontario Retirement Pension Plan introduced today will also include an option for other provinces to join in as Ontario moves ahead with the ORPP while leaving the door open to enhancing the Canada Pension Plan. “We are continuing our conversations about CPP enhancement, but we do know those conversations take […]
As Ontario inches closer to launching its mandatory pension program, the Ontario Retirement Pension Plan, the pension industry remains polarized about the plan’s impact on employers and employees and its fate in the event of an expansion of the Canada Pension Plan. “One of the great benefits the government has shown in the ORPP is […]
Ontario Progressive Conservative leader Patrick Brown said the party not only opposes the provincial Liberal government’s plan for the Ontario Retirement Pension Plan, but they’d undo it if they’re elected in 2018, the Ottawa Citizen reports. Read: Ontario Budget: The ORPP pushes ahead, more details to come in spring In an interview at the Progressive Conservative convention in […]