Manitoba and Newfoundland and Labrador are signing the 2020 agreement respecting multi-jurisdictional pension plans, effective July 1, 2023.
The agreement, which was introduced in June 2020 and replaced the 2016 version, was initially signed by the federal government and the provincial governments of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, New Brunswick and Nova Scotia.
Once adopted by all parties, it will be amended by the 2023 agreement amending the 2020 agreement respecting multi-jurisdictional pension plans.
Developed by the Canadian Association of Pension Supervisory Authorities, the 2020 agreement extends the legal framework established in the 2016 iteration over the administration and regulation of the large majority of Canadian MJPPs.
So far, an order in council has been released on the latest amendments to the MJPP agreement, said Michael Delaney, Newfoundland and Labrador’s superintendent of pensions, in an email to Benefits Canada, noting the provincial regulator is awaiting the final signed agreement.