ORPP Workshop Summary
Tom Kaufman and Jim Kibble from Erb and Erb Insurance Brokers Ltd. (CFFB Advisor) shared details that are presently available on the new Ontario Retirement Pension Plan.
Twenty -five participants were lead through a series of questions in an attempt to clarify some of the costs, the implementation and potential requirements for employers. The implementation dates for employers with more than 50 employees is January 1, 2018 and for employers with less than 50 employees is January 1, 2019.
Although there are several unknowns at this time, the participants gained further insights into what they should start to think about in order to prepare for implementation. The importance of educating your employees early on and throughout in this process is certainly a key to successful implementation.
Dave Schnarr, Executive Director, CFFB