The Aurora Chamber of Commerce opposes the Ontario Retirement Pension Plan (ORPP) in its current format. We acknowledge that for those who do not have a workplace pension plan, there could be an under saving issue related to retirement. Like the Ontario Chamber of Commerce (OCC), we question whether the government's solution is the correct or most effective one, most especially when there are so many small businesses struggling to survive as the cost of doing business in Ontario, continues to rise. These increasing costs are related to Workplace Safety and Insurance Board rates, increasing utility prices, ongoing regulatory burdens and every day operational expenses.
The Aurora Chamber views that the mandatory contributions to ORPP by employers and employees will not only reduce consumer spending but increase operating costs for those businesses and entrepreneurs who are already struggling financially.
The OCC reported that survey results reveal that, if the ORPP is enacted in its current form, 44 percent of employers will reduce their current payroll and/or hire fewer employees.
The Chair of the Aurora Chamber Board supports the recommendation from OCC that local businesses strongly urge the government to revise its definition of "comparable" workplace pension plans. "There are other options for retirement savings," concurs Patricia Poulin-Ulbricht, "that need to be encouraged, but a plan that is a burden to small business is not the answer."
A Sunday, March 8 Newmarket Era story features reactions from The Newmarket and Aurora chambers of commerce to the current, proposed ORPP format.
If you would like additional information, the OCC and the Certified General Accountants of Ontario (CGA Ontario) partnered to consult with employers on these proposals. Read the report on this consultation that will provide you with additional information.
The Ontario Government has a document available on-line entitled Ontario Retirement Plan:Key Design Questions.
MOBILE FRIENDLY WEBSITES: NOT HAVING ONE COULD HAVE A HUGE IMPACT ON YOUR BUSINESS
Did you know that effective April 21, 2015, Google will begin using a new algorithm to exclude websites that are not designed to be "mobile friendly". This will have significant impact on mobile searches worldwide just as these are predicted to surpass desktop searches in 2015. The Aurora Chamber of Commerce is doing research through one of its members and will have ongoing updates. Watch for them!
Judy Marshall, CEO
Aurora Chamber of Commerce
905-727-7262 Ext. 33
