The latest details on Ontario’s pension plan

Key details are still sketchy but employers need to be prepared
By Ross Gascho
|Canadian HR Reporter|Last Updated: 10/05/2015

With an inception date of Jan. 1, 2017, for certain employers and employees, little is known about the Ontario Retirement Pension Plan (ORPP). Many of the features of the plan have been set out in non-binding background papers, meaning employers will not have certainty about the plan until additional legislation is tabled and passed.  


It was worrying that the government had no details on the ORPP when it was first announced. Even now, a bit more than a year before its launch, we still don’t know what benefits it will provide, whether those benefits will be affordable relative to the contribution rates, whether the benefits will be guaranteed, whether multi-employer participants are in or out, or whether the principal objective of the ORPP is to provide pensions or to be an infrastructure fund that also happens to pay pensions.