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The Investment Industry Association of Canada (IIAC) is sounding the alarm over the Ontario government’s “haste in moving forward with the ORPP.”

Read: ORPP may threaten workplace plans

IIAC’s main concern is that if an existing savings plan for employees, such as a group RRSP, isn’t deemed a ‘comparable plan’ to the ORPP, “the result will be reduced flexibility and choice for employers and employees, and an overall weakening of the Ontario financial services sector – a negative economic impact that will be felt across all of Canada.”

Click here to read IIAC’s letter to the Ontario Ministry of Finance.

Also read:

Will Wynne’s ORPP help or hinder investors?

How will the ORPP be implemented?

Originally published on Advisor.ca

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