On April 14, 2016, the Ontario government introduced new legislation to launch the Ontario Retirement Pension Plan (ORPP) legislation. Bill 186, Ontario Retirement Pension Plan Act (Strengthening Retirement Security for Ontarians), 2016 will ensure that if the Canada Pension Plan (CPP) is not enhanced, Ontario can proceed with the ORPP. However, the Ontario government says it remains committed to working with the federal government to enhance the CPP.
Bill 186 also establishes the details of the plan design, the rules on participation and contribution and benefits levels.
The plan will begin enrolment for employers on January 1, 2017, with contributions beginning on January 1, 2018. The introduction of ORPP legislation. Large and medium employers are not required to start contributing before January 1, 2018 and small employers are not required to start contributing before January 1, 2019.
Employees are required to contribute in respect of employment for which the employee … Continue reading “Ontario introducing new ORPP legislation”
