The Ontario Retirement Pension Plan (ORPP):
What Does it Mean for Law Firms?
Ontario has passed legislation to create a provincial pension plan for people who do not currently have a workplace pension plan, starting Jan. 1 2017.
Mandatory 1.9 per cent contributions from employers and workers will be phased in over two years, starting with larger companies in 2017 before moving to smaller operations. Law Firms in Canada have either Group RRSP plans or Defined Contribution plans. These plans will likely not be considered comparable workplace plans. This session will help you and your firm understand:
- What is the ORPP? How does it work?
- What will constitute a “comparable” workplace pension plan?
- How much will it cost?
- How will the ORPP affect Ontario employers with multi-jurisdictional pension plans?
- What steps can Law firms take to prepare for the ORPP?
Andrea is a partner practising in the Toronto office of Stikeman Elliott and head of the firm's National Pensions and Benefits Group. Ms. Boctor advises clients in all areas of the firm's pensions and benefits practice. Areas of particular emphasis include pension issues in the context of mergers and acquisitions and bankruptcy and insolvency. Ms. Boctor also advises clients with respect to a full range of pension investment and administration issues, and the pension issues that arise in the context of lending arrangements. Ms. Boctor is a member of the Canadian Bar Association, Ontario Bar Association, Law Society of Upper Canada, Association of Canadian Pension Management, and International Pension & Employee Benefits Lawyers Association, and is a past Chair of the Ontario Bar Association's Pensions and Benefits Section executive.
Elizabeth (Liz) Black
Liz is the Assistant Director of Human Resources & Law Clerks for Cassels Brock & Blackwell LLP. Prior to joining Cassels, Liz managed US and Canadian benefits, pension plans and 401k’s for such organizations as Pitney Bowes, Direct Energy, TD Bank and Royal Bank. She has extensive experience with CAPSA guidelines, creating and managing pension and Group RRSP programs. She is a Certified Human Resources Leader, Certified Compensation Professional and is a member of the Board of Director’s for the Human Resources Professional Association. Liz is a regular speaker at the Association of Canadian Pension Management (ACPM), Benefits Canada and is a faculty member for the World at Work.