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Ontario has released further detail on how its new pension plan will work, who it will cover and when it will come into being. But is the ORPP a good deal for the workers it aims to rescue?

We compared it with what workers receive under the existing CPP and found that there will be some winners and losers.

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There will also be a lot of people who will be neither winners nor losers since the ORPP will have little or no impact on them.

In particular, the fact that the ORPP provides pensions only to the extent that workers and employers contribute to it means that it will not affect anyone who has already retired. Also, employees who are covered by a workplace pension plan that meets certain criteria will be exempted. And Baby Boomers cannot expect much from the ORPP since anyone who is on the verge of retirement will not have enough time to accumulate a significant benefit.