WYNNE: O-R-P-P INDEXED TO INFLATION, LUMP SUM SURVIVOR PAYOUT

Jan 26, 2016

By Bob Komsic

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The Ontario Retirement Pension Plan, which will be phased in beginning next year, will be indexed to inflation.
Kathleen Wynne
The premier also announced that if a worker, contributing to the plan dies before retirement, their surviving spouse or beneficiary will receive a lump sum payment.
It would be equal to the value of the pension built up, a measure not found in the Canada Pension Plan.
Kathleen Wynne says the O-R-P-P will eventually cover over 3-million Ontarians who don’t have a workplace pension.
Large companies with 500 or more employees will start contributing next January, medium-sized one with over 50 workers will begin in 2018 and smaller companies the year after.
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