|If you own a business or manage employee benefit costs, you have likely heard of the
Ontario Retirement Pension Plan (ORPP)coming into effect on January 1, 2018. It is a new mandatory pension program from the Government of Ontario.
Employers will be required over a phased period to offer an employee retirement savings plan to their employees. This could have a significant impact on your bottom line if not handled effectively.
How will this impact my business?
If you do not have a comparable plan in place for your company's enrollment date, you have three options:
- Make changes to your current group retirement plan to meet the requirements for it to be comparable.
- Enrol in the ORPP and continue to offer your existing workplace pension plan.
- Enrol in the ORPP an discontinue your existing workforce pension plan.
Attend this complimentary webinar and learn about this change and how it will affect you!