The Association of Canadian Pension Management is welcoming today’s announcement of a one-year delay to the Ontario Retirement Pension Plan. “We welcome it,” says ACPM chief executive officer Bryan Hocking, calling it a “wise” move. “I think they’ve had enough input from a number of different organizations and companies that are all saying the same […]
The Portfolio Management Association of Canada is adding its voice to groups calling for a delay to the introduction of the Ontario Retirement Pension Plan. In submissions this week to Finance Minister Bill Morneau in advance of the upcoming federal budget, the association representing more than 220 investment management firms urged the federal government to […]
Premier Kathleen Wynne is defending nearly $600,000 the government spent in advertising the Ontario Retirement Pension Plan during the federal election campaign. The Canadian Taxpayers’ Federation asked for the figure through a Freedom of Information request and was told that $592,834 was spent between Aug. 2 and Oct. 14, five days before the federal election. The […]
As the Ontario government continues to forge ahead with its plans for the Ontario Retirement Pension Plan (ORPP) by announcing new details and features this week, the province’s opposition parties are weighing in on the issue. The Ontario NDPs believe there are still more questions to be answered about the eligibility of contract workers. The […]
The Ontario government has announced a series of design and feature details for the Ontario Retirement Pension Plan (ORPP). In a press conference this morning, Ontario Premier Kathleen Wynne and Associate Minister of Finance Mitzie Hunter announced the details, which cover the structure of ORPP benefits, compliance and enforcements, plan comparability and member participation. Elaborating further, Hunter […]
The Association of Canadian Pension Management (ACPM) has asked the Ontario government to delay the implementation of the Ontario Retirement Pension Plan (ORPP) by one year. In a letter to Ontario Premier Kathleen Wynne, the ACPM’s CEO Bryan D. Hocking, wrote: “A one-year delay will allow the collaborative federal and provincial approach commenced last fall to continue, and will allow Ontario […]
The Ontario Trucking Association (OTA) said that one of its key concerns about the Ontario Registered Pension Plan (ORPP) has been “laid to rest for the time being.” The concern was around whether the provincial government intended to try to apply the ORPP to federally-regulated companies, rather than those that come under provincial jurisdiction. In […]
It doesn’t take much to make a B.C. registered pension plan (or a plan registered in another provincial jurisdiction with B.C. members) quickly become non-compliant with B.C.’s new Pension Benefits Standard Act (PBSA). The new and improved PBSA—the brainchild of the authors of the Joint Expert Panel on Pension Standards (JEPPS) 2008 report entitled Getting […]
The debate about the merits of the proposed Ontario Retirement Pension Plan (ORPP) and a mandatory CPP expansion versus private pensions continues. But proposal opponents have failed to take into account key data about the costs of the public and private models. If you do the math, it turns out the public pension model has an advantage.
The British Columbia government is announcing new standards for workplace pension plans, creating options that could be activated even before an employee retires.