January 29, 2015Hon. Mitzie HunterAssociate Minister of FinanceProvince of Ontario4117 Lawrence Avenue EastUnit 109Toronto ON M1E 2S2
Re: Ontario Retirement Pension Plan (ORPP) Key Design Questions Consultation
Dear Minister Hunter:
As you are aware, the proposed ORPP will be mandatory for all employers who do not maintain a “comparable pension plan.” A critical question is the definition of a comparable pension plan. MEBCO represents multi‐employer pension plans (MEPPs), many of which include employers and workers in Ontario. The plan sponsor for each of these plans is a board of trustees, often composed of equal numbers appointed by the participating unions and contributing employers. MEBCO strongly supports the Consultation’s inclusion of employers who contribute to target benefit (TB) MEPPs as maintaining a comparable pension plan.
- The threat to multi-employer plans is real.
The legislative framework is constantly changing, and cost-management and cost reduction are at the top of every agenda.
- Legislative changes can be significant.
Recent proposed changes have threatened to offload costs onto plans, restrict plan coverage, and have compromised the viability of some plans
- Multi-employer plans are worth protecting.
Multi-employer plans play a vital role in providing health services and retirement plans to over 1 million workers and their families in industries typified by small companies and a mobile work force.
- Multi-employer plans need a united lobby.
Multi-employer plans carry a low profile due to the fact that the coverage is thinly spread over many employer groups and mobile workers.
- MEBCO is committed to protecting your interests.
When governments propose changes, MEBCO is the single, clear voice at the table representing the unique interests of multi-employer plans.
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- Target Benefit Legislation for Collectively Bargained Multi‐Employer Pension Plans (CBMEPPS)
- Save the Date: 9th Transatlantic Conference, Montreal - May 10-12, 2017
- MEBCO Annual General Meeting, Feb
- MEBCO RESPONSE TO SASKATCHEWAN FINANCE AND CONSUMER AFFAIRS AUTHORITY CONSULTATION PAPER: “PROPOSED REGIME FOR NEGOTIATED COST PENSION PLANS”