FEBRUARY 2016
ONTARIO PENSION PLAN LAUNCH DELAYED BY ONE YEAR

According to multiple sources, Ontario will be delaying the start of its signature Ontario Retirement Pension Plan for large companies with 500 or more employees.

Although registration and enrolment would still commence for these employers in January 2017 as originally planned, payroll deductions will not start until the following year, January 2018.

“A number of groups, including the Association of Canadian Pension Management, the Canadian Life and Health Insurance Association, and the Portfolio Management Association of Canada, have been requesting a one year delay to the implementation of ORPP,” said Accompass Vice President Dianne Tamburro. “This change will give companies more time to prepare, and also gives the federal government more time to explore the possibility of enhancing CPP.”

+ The new Federal government's approach to ORPP will be different

This past month Accompass is excited to announce that four people have joined our growing team:
Behroze Nejaati and Mike Macoun joined the Benefits & Health practice, Wakeef Hussain joined the Investment & Retirement group, and Melissa Hadaway joined as an Executive Assistant. Welcome to the team!

+ Their backgrounds
On February 9 Accompass President Sarah Beech presented at the Maximizing Benefits Without Increasing Costs conference, challenging plan sponsors to consider revisiting the philosophical foundation for why they offer group plans, and to think in innovative ways about ways to manage them.

+ Some strategies are already available to plan sponsors

Woodbine Entertainment Group SVP Tania Caza and Accompass VP Steven Osiel presented at the HRPA conference January 20 in Toronto, exploring the ways that Tania and her team at Woodbine overcame a transformative period over the past 4 years.

+ The big change in 2012
On February 4 at TIFF Bell Lightbox Accompass hosted a group of plan sponsors to help them prepare for the ORPP, and start considering strategic options and implications.

+ Handy ORPP infographic
Nova Scotia's minimum wage will be increasing by 10 cents to $10.70 an hour on April 1.
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