It is important for employers, sooner rather than later, to start thinking about whether any changes need to be made to payroll costs in order to address the costs of an expanded CPP and whether amendments to pension and benefits plans will be required to accommodate the more generous CPP benefit.
The Ontario Retirement Pension Plan (ORPP) seemed like a sure thing—until it wasn’t. On June 20, 2016, Bill Morneau, the federal Minister of Finance, and eight of ten provincial finance ministers did what many to this point thought was impossible: reach an agreement in principle to expand the Canada Pension Plan (CPP).
On December 7, 2015 Ontario passed an amendment to its Employment Standards Act to protect employees’ tips from being usurped by business managers and owners. The amendment will come into effect six months after it receives Royal Assent. In most provinces, tips and gratuities are specifically excluded from the definition of “wages” in employment standards laws...
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