ORPP: A Good MovePosted: August 18, 2015
Hugh O’Reilly, President and CEO of OPTrust, explains why the ORPP will be beneficial for Ontario workers in the July/August 2015 issue of Benefits Canada.
At one time, funding your retirement was straightforward. Most Canadians could count on a decent standard of living in retirement from the three pillars of our retirement income system: the Canada Pension Plan (CPP), old age security and Guaranteed Income Supplement; employer-sponsored pension plans; and their own private savings. Most employer plans were DB, which guaranteed a consistent stream of income for as long as a retiree lived. Today, those pillars have eroded and cracks are beginning to show.