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ORPP Act Passed


Ontario has passed the Ontario Retirement Pension Plan Act (Strengthening Retirement Security for Ontarians), 2016. It says the Ontario Retirement Pension Plan (ORPP) will bring financial security and drive economic growth for generations to come by providing Ontario workers with a predictable stream of income in retirement, paid for life. Along with regulations expected this summer, the legislation gives employers and employees the information they need to prepare for the launch of the ORPP. This is a step forward in fulfilling the government's commitment that every eligible employee is part of the ORPP or a comparable workplace pension plan by 2020.

Courtesy of Benefits and Pensions Monitor website News Alerts 

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