ARTICLE · 10 MARCH 2016

The Ontario Retirement Pension Plan: It's Coming Soon

Dentons Canada LLP

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In less than a year, the new Ontario Retirement Pension Plan (ORPP) is set to be in place for certain employers.

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In less than a year, the new Ontario Retirement Pension Plan (ORPP) is set to be in place for certain employers. If you are an employer with Ontario workers, now is the time to consider the impact the ORPP will have on your business and decide whether changes to existing retirement savings plans should be made.

The federal and provincial finance ministers met in late December 2015, and discussed enhancements to the Canada Pension Plan (CPP); however, changes to the CPP are unlikely to be made in the near future. As a result, the Ontario government continues to move forward with establishing the ORPP by January 1, 2017, while keeping the door open for potential integration with a CPP enhancement in the future.

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