Ontario Tables New ORPP Implementation Legislation
Date: April 14, 2016
On April 14, 2016, the Ontario government announced the introduction of new Ontario Retirement Pension Plan (ORPP) legislation.
In accordance with prior government announcements on ORPP implementation, Bill 186, the Ontario Retirement Pension Plan Act (Strengthening Retirement Security for Ontarians), 2016 (ORPP Act, 2016) will, if passed:
- Require the enrolment of employers commencing on January 1, 2017, with the first wave of contributions beginning on January 1, 2018
- Enshrine key plan design details, including rules respecting participation and eligibility, applicable contribution rates and benefit types
- Set out procedures for compliance and enforcement, and to facilitate plan sustainability
We are reviewing the ORPP Act, 2016 and will publish a detailed discussion of its key features in the coming days.
Background reading on the ORPP is available in our recent communication, ORPP Implementation Delayed to January 1, 2018.
Should you have any questions regarding the ORPP, please contact your regular Hicks Morley lawyer.
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