SCRAPPED ONTARIO PENSION PLAN COSTS $70 MILLIONJuly 29, 2016
QUEEN’S PARK – We’ve now learned that the Wynne government’s failed ORPP scheme cost Ontario taxpayers $70-million and delivered $0 in benefits, Nipissing MPP Vic Fedeli said today.
Yesterday, the Ontario government publicly acknowledged that they spent $70 million on the Ontario Retirement Pension Plan (ORPP), before they scrapped the idea and signed on to an enhanced Canada Pension Plan (CPP).
“This is money that could have gone to paying down the debt, hiring more nurses, or providing tax relief. Instead, millions of dollars were flushed down the drain,” said Fedeli.
The government also confirmed that six senior executives are set to receive $2 million in severance payments. The ORPP’s CEO Saad Rafi, who was also responsible for bringing the Pan Am Games $342 million over budget, will receive over $827,000 for less than six months of work.
“We found that one ORPP employee received total compensation of $341,418 for only 15 days of work! That accounts for $22,761 a day on the taxpayer dime,” added Fedeli
The Wynne government also spent $8 million of public funds on partisan advertising for the ORPP. The Auditor General confirmed she would not have approved the ORPP ads due to their political nature.
“This is yet another example of this government’s waste and mismanagement at the expense of Ontarians’ hard earned tax dollars. The Wynne government owes Ontarians an apology and a cheque for $70 million,” Fedeli concluded.