17 February 2016 Ontario delays ORPP implementation In a joint news release dated February 16, the federal and Ontario governments announced they have reached an agreement to work together to improve pensions for Canadians. Specifically, Ontario will collaborate with the federal government in an effort to enhance the Canada Pension Plan (CPP) and achieve a national solution for improving retirement income security. To provide time for further discussion between the federal government and the provinces, Ontario has proposed a one-year delay in the enrollment in the Ontario Retirement Pension Plan (ORPP). Enrollment will now commence in January 2017. In addition, the first phase of employer contributions (for employers with 500 or more employees that do not have registered pension plans) will be delayed for one year, commencing on January 1, 2018 instead of January 1, 2017. Document ID: 2016-0336 |
