Ontario releases details around pension plan

To be phased in between 2017 and 2021
By Sheila Brawn
|Canadian Payroll Reporter|Last Updated: 09/01/2015

mployers looking for more details on Ontario’s proposed pension plan now have a clearer picture of what will be required, but other questions about the Ontario Retirement Pension Plan (ORPP) remain.

Premier Kathleen Wynne first proposed the ORPP last year, saying it was necessary to help residents save more for retirement since the federal government has so far refused to enhance the Canada Pension Plan (CPP).

The ORPP would be structured much like the CPP, with
mandatory contributions from employers and employees. The plan would operate in addition to the CPP, meaning employers and employees required to contribute to the ORPP would have to pay into both plans.