ONTARIO PENSION PLAN TO USE CANADA PENSION PLAN FRAMEWORK: REPORT

Feb 16, 2016

By Jane Brown

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As Ontario politicians go back to the legislature after a 10 week break, comes some good news for Premier Kathleen Wynne’s Made In Ontario pension plan.

The Toronto Star is reporting that Ontario has secured the launch, and long term future of the Ontario Retirement Pension Plan (ORPP), by winning support from the federal government to collect payroll premiums through the existing Canada Pension Plan framework.

The agreement supports the Ontario Pension plan by avoiding costly duplication of services and bureaucracy, streamlining the process for nervous employers and sparing the province massive start up costs.

An understanding between the province and Ottawa was apparently reached over the long weekend. Prime Minister Justin Trudeau made an election promise last Fall to overturn former Conservative Prime Minister Stephen Harper’s plan to prevent the Ontario Retirement Pension Plan from using federal resources.

The ORPP will start to be phased in next year.

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