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!