The Ontario Retirement Pension Plan – More Details Released

As promised in its March 2016 budget, on April 14^th, the Ontario government introduced Bill 186, the Ontario Retirement Pension Plan Act (Strengthening Retirement Security for Ontarians), 2016 (the "Bill" or the "Act"). The Bill sets out the key requirements of plan design, including participation, contributions, benefit types and plan sustainability. Many questions remain, however, as additional plan design details are to be addressed in regulations and future legislation.

In this communiqué, we provide an overview of some of the key elements of the Bill. For background information on the Ontario Retirement Pension Plan (the "ORPP") please refer to our January communiqué on The Ontario Retirement Pension Plan – An Update and our March communiqué on the  2016 Ontario Budget – Impact on Registered Pension Plans. We will also be discussing the Bill in further detail at our A.M. Pension session on May 31^st.