With the Ontario Retirement Pension Plan Act, 2015 now in force, the Ontario government is moving ahead to establish the ORPP by January 1, 2017. The ORPP is a made-in-Ontario alternative to a Canada Pension Plan (CPP) enhancement.
The plan is needed according to the government because many Ontarians, including middle- and higher-income earners, may not be saving enough to ensure comparable standards of living in retirement.
The ORPP is mandatory for employers without a comparable workplace pension plan. Employers who already offer a comparable workplace pension plan will not be required to participate in the ORPP. All workers must . . . [more]