Human Resources Legislative Update
Ontario Government Announces ORPP Implementation Details
Date: August 11, 2015
On August 11, 2015, the Ontario government released new details about the Ontario Retirement Pension Plan (“ORPP”) and its implementation.
As previously reported, the ORPP was announced in the 2014 Ontario Budget. A consultation paper entitled “Ontario Retirement Pension Plan: Key Design Questions” was released in December, 2014 for public comment. In particular, the paper discussed the types of arrangements that might qualify as “comparable workplace pension plans” and exempt the employers who sponsor them (and their employees) from mandatory participation in the ORPP.
The government’s announcement outlines key details employers in Ontario have been waiting for, including the proposed timelines for rolling out the ORPP and the definition of what is a comparable workplace pension plan. For more information, please read our FTR Now, ORPP: Ontario Government Announces Implementation Details.