Status: The bill received Royal Assent as
of June 09, 2016.
Summary: Bill 186 serves the purpose to provide a lifetime pension for Ontarians, fulfilling the provincial government's commitment to strengthen retirement security for those without an adequate pension plan. By 2020, every eligible worker in Ontario (aged 18 to 70 years) would be part of the provincial or a private retirement pension plan.
Providing a pension does not fall under the fiduciary obligations
for First Nations in Canada, but the plan does contain a provision specific to
First Nations, offering access to the legislation on an opt-in basis. Unless
both employer and employee choose to participate in the Ontario Retirement
Pension Plan (ORPP), First Nations employees are excluded from
participating in the ORPP.
The opt-in provision for the ORPP protects First Nation
jurisdiction and sovereignty, while also making available an important service
for First Nation citizens and communities.
Full text of the reading can be found here.
Full text of the legislation on Ontario Newsroom can be found here.
Related Policy & Programs: Strengthening Retirement Security for Ontarians, ORPP
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