The Ontario Government Announced new details this week about the Ontario Retirement Pension Plan (ORPP).
On January 26, 2016, Premier Kathleen Wynne and Minister of Finance Charles Sousa announced new information on the Ontario Retirement Pension Plan update. ORPP details include information regarding the structure of ORPP benefits, compliance and enforcement, plan comparability and member participation.
There was some speculation, before the new year, that the ORPP might be put on hold and replaced by a Federal overhaul of the CPP. We now know this is not the situation. The Ontario Government will be going ahead with the ORPP implementation beginning January 1, 2017 for large employers.
For a summary of the ORPP, read the Fusion Blog from September 2015 – ORPP Implementation.
Looking for more on the Ontario Retirement Pension Plan update, read the latest ORPP news release, information on additional design details and guide to the ORPP for Employers.
