Halton MPP Indira Naidoo-Harris knows Premier Kathleen Wynne is entrusting her with a key priority: the Ontario Retirement Pension Plan.

And the Liberal government’s proposed method of boosting Ontarians’ retirement incomes could still potentially change, even with a bill that establishes the pension becoming law before the legislature rose for the summer. Finance Minister Charles Sousa said earlier this month that the province is ready to “deal” on a Canada Pension Plan enhancement that could render the ORPP moot. Sousa also said Ontario wouldn’t wait forever, and work continues on assembling the provincial pension plan.

Naidoo-Harris, meanwhile, was promoted in Monday’s cabinet shuffle to associate finance minister with responsibility for the ORPP. The provincial pension is one of the Liberal government’s signature policies, and is Wynne’s answer in lieu of a boost to the CPP, which is a decision that will be negotiated later this month in Vancouver by the provinces and Ottawa.

“This is definitely a plan that I know the premier takes seriously, and I do too,” Naidoo-Harris said Monday at Queen’s Park. “I think it’s important when we look at the future of the province and as residents of this province age we know that they’ve put in much of their lives to building this province up and we want to ensure that they actually do get a chance to retire in comfort. And so, my job is to make sure that Ontario continues to lead the way when it comes to the ORPP.”

Naidoo-Harris is succeeding new Education Minister Mitzie Hunter at the helm of the ORPP ministry. Naidoo-Harris had yet to be briefed on her new portfolio, which is also her first cabinet assignment, and wasn’t sure if she’d be in Vancouver for the finance ministers’ confab on a possible CPP enhancement.

“These are early days,” she said. “At this point, I’m just very excited about doing this. It’s a huge responsibility, one I take seriously. I think that it’s an important portfolio to the premier and I’m just very eager to get started.”

The ORPP is scheduled to start enrolling employers in the plan next year. Contributions are to begin being made in 2018. Barring a comparable workplace pension plan, employees and employers will eventually be required to make matching contributions of 1.9 per cent of earnings up to $90,000 (about $3,420 combined).

The province appointed a nominating committee in May that will recommend directors for the Ontario Retirement Pension Plan Administration Corp., the arm’s-length body that will manage the ORPP and invest its contributions. The three-person nominating committee includes Susan Wolburgh Jenah, the chair of the ORPP AC’s board, and a veteran of the Investment Industry Regulatory Organization of Canada and Ontario Securities Commission.

The Ministry of Finance also has a tender out seeking “recruitment services” that will assist the nominating committee. The winner of the contract will help out “by commenting on skills and remuneration frameworks, conducting an executive talent search, conducting interviews and other appropriate assessments, and providing support to the Ministry in finalizing appointments.”

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Twitter: @geoffzochodne

Shifting Ontario pension plan duties pass to rookie minister

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