The provincial Liberal government's new mandated provincial pension plan is being termed bad for business, and employees could suffer as well.
That's according to the Sarnia-Lambton Chamber of Commerce.
The province has moved to implement mandatory 1.9 per cent contributions from employers and workers effective January 1, 2017.
President Rory Ring says the pension plan coupled with increased workers compensation, increased minimum wage, and a potential carbon tax will make doing business very expensive.
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Ring says many Canadians owe $1.63 for every dollar in earnings. He says the mandatory pension plan not only reduces the workers' wages but limits a business' ability to generate positive income.
He says business should look to implement a pooled pension plan which he claims would be more cost effective.
