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ARTICLE · 14 MARCH 2016

2016 Ontario Budget – Impact On Registered Pension Plans

Miller Thomson
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On February 25, 2016, the Ontario government released its 2016 Budget (the "Budget"). Not surprisingly, the Budget included a number of pension related announcements.

CanadaEmployment and HR
Kim Ozubko
Kim Ozubko
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On February 25, 2016, the Ontario government released its 2016 Budget (the "Budget"). Not surprisingly, the Budget included a number of pension related announcements. In this Communique, we review those announcements.

Ontario Retirement Pension Plan ("RPP")

As expected, the Ontario government confirmed its commitment to the ORPP and its pledge that, by 2020, all eligible workers will be covered by the ORPP or a comparable workplace plan. As reported in our January Labour and Employment Law Communique The Ontario Retirement Pension Plan – An Update, the Ontario government announced a number of ORPP design elements earlier this year. In the Budget, the government confirmed that it will be introducing legislation outlining the design elements in spring 2016. The legislation will focus on employer eligibility, benefit calculations, and the compliance and enforcement regime.

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