ONTARIO’S RECENT ANNOUNCEMENT ON THE ONTARIO RETIREMENT PENSION PLAN (ORPP) IS MIXED NEWS FOR BUSINESSES IN
Ontario’s recent announcement on the Ontario Retirement Pension Plan (ORPP) is mixed news for businesses in the province. Here are some of the highlights of that announcement:
- Ontario has reached an agreement with the federal government to help administer the plan.
- The province has also agreed to participate in discussions with Ottawa to enhance the Canada Pension Plan (CPP). However, they still plan to move forward with the ORPP, despite ongoing CPP discussions.
- Ontario finally recognized our position that neither businesses nor the government would be ready for a January 2017 implementation. Companies with over 500 employees will still have to register by Jan. 1, 2017, but won’t have to make contributions until 2018.
- Timelines for businesses of other sizes remain unchanged.
Restaurants Canada will continue to press for changes to the program, in particular to extend the one-year implementation delay to all businesses.
We continue to work with the federal government and all provinces to ensure that the ORPP model isn’t adopted elsewhere, and that changes to CPP are modest and targeted.
Read our position on CPP changes here.