COST ANALYSIS: YOU, ECONOMY BETTER OFF UNDER ORPP

Dec 22, 2015

By Bob Komsic

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The day after federal, provincial, territorial finance ministers met and decided to keep talking about reforming the Canada Pension Plan, the province has received a cost-benefit analysis of the Ontario Retirement Pension Plan.

CANADA, Toronto: To get citizens saving for their golden years, Ontario's Liberal government tabled legislation to create a mandatory provincial pension plan, announced by the province's Finance Minister Charles Sousa and associate minister of finance Mitzie Hunter at a press conference in Ontario's legislature buildings on December 8, 2014. (ALEX GUIBORD/CP)

The associate minister of Finance, who’s responsible for the ORPP’s implementation, Mitzie Hunter, says the report from the Conference Board of Canada is clear, it shows Ontarians and the economy will be better off under the plan.
The province’s point person on the plan says the report reiterates that, over the long-term, it would add billions to the economy by ensuring that future retirees have adequate savings.
While the cost benefit analysis acknowledges a small, short-term impact to the economy, Hunter adds it also shows that real disposable income will be $19.4-billion and real Gross Domestic Product will increase by $9.6-billion over the long term under the made-in-Ontario pension plan.
Goldhawk Zoomer
More on this Wednesday when Mitzie Hunter joins Zoomer Radio’s ”Goldhawk Fights Back” after the news at 11am.
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