2ND Reading of Hon. Mitzie Hunter’s Private Member's Bill #186 entitled "Ontario Retirement Pension Plan” on Apr. 20, 2016....(read more)
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As the population of Ontario ages, there is growing concern about the ability of residents to fund their retirement years. The government of Ontario has responded to this by introducing a Bill, called the Ontario Retirement Pension Plan, which would create a new pension plan for workers in the province. One of the driving forces behind the Bill is Mitzie Hunter, the Minister of Education for Ontario. Hunter has been an advocate for retirement security throughout her career, and she has worked tirelessly to promote the new pension plan. The Bill proposes to create a mandatory workplace pension plan for Ontarians who do not have access to a comparable workplace pension plan. The plan would be funded by both employers and employees and would provide a predictable, reliable source of retirement income for workers. Hunter has spent years researching and developing the plan, working with stakeholders across the province to create a design that is fair, sustainable and effective. She has also reached out to other governments and experts across North America to learn from their experiences with similar plans, and to ensure that the Ontario Retirement Pension Plan is both innovative and best-in-class. One of the features of the plan that Hunter is particularly proud of is its flexibility. Workers who already have a workplace pension plan that meets the standards set by the Ontario Retirement Pension Plan will not be required to participate, and small businesses will be able to phase in contributions over a period of time. The Ontario Retirement Pension Plan has not been without its detractors, however. The opposition party has criticized the plan as a tax grab, and some business leaders have expressed concern about the potential costs and administrative burdens of the plan. Despite these challenges, Hunter remains committed to the Ontario Retirement Pension Plan, and to creating a secure retirement future for Ontarians. She has said that the plan is necessary because the current patchwork of pension plans in Ontario is not meeting the needs of workers, and that a more coordinated approach is needed to ensure that all Ontarians can retire with dignity and financial security. The Ontario Retirement Pension Plan is currently being debated in the Ontario legislature, and it is expected to become law later this year. If it does, it will be a major victory for Hunter, who has spent years advocating for retirement security and working to make the plan a reality. https://inflationprotection.org/mitzie-hunter-re-bill-186-ontario-retirement-pension-plan-04-20-16/?feed_id=79143&_unique_id=6415536b3d8ac #Inflation #Retirement #GoldIRA #Wealth #Investing #MemberofProvincialParliament #MitzieHunter #MPP #OntarioRetirementPensionPlan #QueensPark #ScarboroughGuildwood #RetirementPension #MemberofProvincialParliament #MitzieHunter #MPP #OntarioRetirementPensionPlan #QueensPark #ScarboroughGuildwood
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