The Ontario government made substantial progress in implementing the ORPP
, including developing the plan design, introducing legislation and setting up the infrastructure needed to support the plan.
Those in the bottom two quintiles who receive GIS would have half of the proposed ORPP
pension clawed back from GIS under the income rules that govern GIS.
Employers and employees who participate in a comparable pension plan will not be required to participate in the ORPP
The rationale behind CPP expansion and the ORPP
is based on the premise that voluntary savings are inadequate for most people who do not have a workplace pension plan (Ontario 2014).
Contrast that with the ORPP
which forces Tim, whether his daughter needs braces or not, to spend roughly 2 per cent of his income on a new savings plan.
This is a crucial step forward in fulfilling the government's commitment that every eligible employee is part of the ORPP
or a comparable workplace pension plan by 2020.
Susan Wolburgh Jenah: Currently the Chair of the Initial Board of Directors of the ORPP
Ontario has made significant progress on the ORPP
in recent months.
He will be responsible for developing the ORPP
AC's organizational structure, engaging service delivery partners such as the Canada Revenue Agency, and overseeing the set-up of the infrastructure and technology required to administer the plan.
The paper concludes with comments on the proposed design of the ORPP
and broader policy implications.
Today, we fulfilled our legislative requirement to table a cost-benefit analysis of the ORPP
As part of its commitment, Ontario will continue with its plan to implement the ORPP
, while allowing for potential integration with a CPP enhancement in the future.