Ontario Legislative Updates
Ontario Retirement Pension Plan (ORPP)
Cowan recently published an important article regarding the ORPP following an announcement from Premier Kathleen Wynne on August 11, 2015. In case you missed it, check out the article here.
Pooled Registered Pension Plan (PRPP)
On May 26, 2015, Bill 57, Pooled Registered Pension Plan Act, 2015, passed its third reading. The Ontario PRPP is awaiting Royal Assent, which will come into force on a date to be named by proclamation.
Plan design information for the Ontario PRPP has yet to be released, but we are expecting it to closely follow the Federal PRPP design.