Sentences with phrase «comparable workplace pension»

The plan would not apply to employees who participate in a «comparable workplace pension plan.»

Employers who already offer a comparable workplace pension plan will not be required to participate in the ORPP.

The individual does not participate in a comparable workplace pension plan as determined under the legislation

The ORPP is mandatory for employers without a comparable workplace pension plan.

Following a phase - in period, by 2020 the government aims to enroll all Ontario workers between ages 18 and 70 who are not members of a «comparable workplace pension plan» in the ORPP, subject to a minimum annual earnings threshold which has yet to be determined.

Comparable workplace pension plans are registered pension plans that meet a minimum benefit / contribution threshold:

Comparable plans: The ORPP would be mandatory for employees and employers without a comparable workplace pension plan.

However, employers may opt into the ORPP in respect of employees who participate in a comparable workplace pension plan.

Opt - in: Employers that have comparable workplace pension plans would be able to opt - in to the ORPP starting in 2020.

The new ORPP supplements the existing Canada Pension Plan with extended coverage for those who don't already have a comparable workplace pension.

Ontario's plan will apply to workers who do not have comparable workplace pension plans, federally regulated employees and those with income below a yet - to - determined threshold.

By 2020, all Ontario workers will be in the ORPP or a comparable workplace pension plan.

The first wave will see full - time and part - time workers at large companies with more than 500 employees and no comparable workplace pension plan start mandatory contributions as of Jan. 1, 2017.

To be exempt from the ORPP, you must have what the Wynne government considers a comparable workplace pension plan.

Once the plan is in full swing by 2020, all workers without a comparable workplace pension plan would be forced to stash 1.9 % of their first $ 90,000 of income in a pension investment fund managed by an arms - length financial institution.

Although the plan is marketed as mandatory, a clause in the budget provides an escape by stating «those already participating in a comparable workplace pension plan would not be required to enrol in the ORPP.»

Not exact matches

the creation (proposed for 2017) of the Ontario Retirement Pension Plan, a mandatory public pension plan (similar to the Canada Pension Plan) for employees in the province who do not participate in a «comparable» workplace pensioPension Plan, a mandatory public pension plan (similar to the Canada Pension Plan) for employees in the province who do not participate in a «comparable» workplace pensiopension plan (similar to the Canada Pension Plan) for employees in the province who do not participate in a «comparable» workplace pensioPension Plan) for employees in the province who do not participate in a «comparable» workplace pensionpension plan;

The Ontario Registered Pension Plan comes into effect in 2017 for large employers that don't have comparable workplace plans.