Ontario Announces ORPP Design Details
|Area||Corporate and Commercial, Employment and Labour, Pensions|
The Ontario government has announced further design details for the Ontario Retirement Pension Plan (ORPP). Plan members will start making contributions on January 1, 2017, and the ORPP will start providing benefits in 2022. A Technical Bulletin has been released which is intended to assist employers planning for the ORPP. Of particular interest, the bulletin provides:
- details regarding who is covered by the plan and who is not;
- how benefit and contribution amounts will be calculated; and
- how those amounts may change over time.