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Government makes DC plan decision for ORPP

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Life Health Professional | 11 Aug 2015, 11:08 AM Agree 0
Advisors can breathe a sigh of relief as the provincial government are defining DC plans offering total contributions of 8 per cent as comparable to the ORPP
  • Wynneneedstogoaway | 11 Aug 2015, 05:51 PM Agree 0
    4+4 = 8% contribution via DC plan, so how does that = 1.9+1.9 in the ORPP. What am I missing for unless the Ontario gov't is subsidizing the ORPP, how can the 2 = each other?
  • Bill McIntosh | 12 Aug 2015, 05:58 AM Agree 0
    As a small business owner with 16 employee's this will cripple our business and will not only be a burden on us as an employer but also the employee as they will also loose a portion of the of there wages after tax which they cannot afford. This is a tax which enables the underground business to have a tax advantage to both the employed and the employer and makes it harder to compete and thus we loose business to companies which are under the radar. On top of this we also increase the size of the already to big government as it will require massive numbers of inspectors to enforce and find the underground. If a company can work under the radar they can save upwards of 20% per employee in costs such as WSIB CPP EI and now the ORRP.
    On top of that is the government capable of managing a pension plan or is this just a tax which will be used to pay the overspending which is happening.
    This is a tax that could put a lot of already struggling businesses out of business and cost Ontario a lot of Jobs. We need to stop this legislation!

  • Brian | 12 Aug 2015, 09:59 AM Agree 0
    the way I see it Bill is that you cut any raises that you were planning on giving your employees and tell then that it is compliments of Kathleen Wynne
  • Brian | 12 Aug 2015, 10:01 AM Agree 0
    I think its because of the hypocrisy in this government that allows dc members to unlock 50% of the assets. So they undermine dc plans effectiveness and then introduce this...
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