If you haven’t heard yet the Ontario government will be implementing a mandatory Ontario Retirement Pension Plan (ORPP) for all employers starting January 2017.
Many of the details have yet to be worked out, with many of the rules still uncertain i.e. a recent consultation paper that said defined contribution plans would not be recognized by the new Ontario pension plan which would mean employers would still have to join the ORPP. I have created a short video that covers what we know as of now what the ORPP is and how it works and how it benefits you as an employee.
What are you thoughts about the government forcing you to save 1.9% for retirement?