Canada’s new pooled registered pension plan (PRPP) legislation has been on a roller coaster of support and criticism over the past year—and it hasn’t even come into force yet.

Since the federal government first announced the proposed legislation in December 2010, PRPPs have been both praised and vilified, with some calling them a much-needed solution and others calling them an empty response to our country’s retirement funding woes.

As part of our ongoing coverage of pension reform in Canada, Benefits Canada asked industry experts to weigh in on the good, the bad and the uncertain when it comes to PRPPs.

Will PRPPs close the pension gap?
Rather than introducing all the regulatory complexities of PRPPs, perhaps a simpler approach would be to try to improve RRSPs, argues Benefits Canada’s expert panellist Robin Pond. Read more…

Are PRPPs the gateway to compulsory pensions?
Australia and the U.K. have begun to implement compulsory pensions as a solution for increased longevity. Tom Murray of Exaxe asks if Canadian authorities are headed down the same route. Read more…

Feds miss the mark in PRPP Act
Benefits Canada’
s expert panellist Greg Hurst also sees compulsory pensions as the solution to Canada’s pension coverage problem. He suggests that the best option is to make it mandatory for employers to provide access to a workplace pension plan, coupled with the PRPP as an alternative to a traditional employer-sponsored registered plan. Read more…

Planting the seed for pension reform
The Saskatchewan Pension Plan has been touted as a model for the national PRPP framework, writes Benefits Canada‘s associate editor, Neil Faba. At the plan’s core are low administration and investment management costs, portability and prudent fund management—all principles the federal government has said it intends to uphold in its version. Read more…

What will PRPPs mean for employers?
PRPPs on their own aren’t enough, says Morneau Shepell’s Greg Heise. In this video interview with BenefitsCanadaTV, Heise explains why he thinks more mechanisms need to be in place in order for PRPPs to succeed. Read more…

PRPPs: Not a silver bullet
Barbara Austin from Osgoode Hall Law School writes that PRPPs have the potential to increase pension coverage and retirement savings for Canadians, but their success comes down to design and implementation. Read more…

Copyright © 2021 Transcontinental Media G.P. Originally published on

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