Details of the independent corporation that would manage a provincial pension plan were in Ontario’s budget April 24.
A new organization, called the Ontario Retirement Pension Plan Administration Corporation, will be in charge of investment decisions and the day-to-day workings of the plan, reports Advisor’s sister publication, Benefits Canada.
When fully formed, the ORPP AC will have an independent board of between nine and 15 people. There will be an interim board to oversee the fund’s establishment, says BenCan.
The government says it’s still considering further plan details in light of recent consultations.
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