Canadian small business owners are enthusiastic to adopt the new Pooled Registered Pension Plans (PRPPs), according to a poll of more than 800 companies by the Canadian Life and Health Insurance Association (CLHIA).

Of those companies surveyed who do not currently offer a pension plan, 68% said they are interested in providing PRPPs.

“Small and medium-sized business executives are ready to embrace PRPPs as they look for new ways to keep employees and attract new people,” said Frank Swedlove, president, CLHIA. “We are on the cusp of making a fundamental shift in the pension landscape.”

The poll also showed that 71% of respondents agree that employers should be required to offer some form of retirement plan to employees. Support for making PRPPs was highest among those who already have a plan (79%), yet still strong (66%) among those who do not have a plan.

Even though it is not mandatory for employers to contribute to the PRPPs in the current legislation, 73% of respondents interested in providing PRPPs said they will “look at ways their business could contribute to the plan over and above what the employee puts into it.”

Two-thirds of survey participants believe that their employees will be interested in participating in PRPPs.

Copyright © 2020 Transcontinental Media G.P. Originally published on

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John Staric:

With no disrespect, I do not believe these survey results at all. If small business or Canadians for that matter were interested in savings for retirement they would place at least some money into RRSPs or TFSAs and according to Stats Canada, uptake on this is fair at best. In addition, Group RRSPs have existed for years which is similar to a PRPP and few business, small or medium etc, have provided their members with retiremetn savings opportunnities. What is it about PRPPs that will change their apathetic attitudes towards savings. In my opinion, it is the flavour of the day and businesses are promoting this jsut so they can tell their employees that they are trying to help them. Rest assured, it wonèt happen, just as it did not happen with group RRSPs. On another note, for those who are not familar with pensions, PRPPs are to be uniform across the country and there have been pension groups fighting for uniformity of pension rules and legislation across Canada since at least the early 1990’s – result, nada. So, here again is teh promise that PRPPs will unite the country but will likely never come to be as governments will not support the program as is without their touch and chnages to it and then, if it passes this threshold, it is still optional. Here is a hint, use the group RRSPs and get to saving for retirement now. I would also bring up CPP/OAS and other plans but that is another related topic.

Wednesday, January 18 at 8:59 am | Reply


Pension share pickup, rare as it may be, is never free money. Like any other emoepymlnt benefit, including health insurance and the employer’s share of our PERS contributions, it’s paid for with funds that the employer would otherwise be able to pay directly to the employee. Salaries and benefits both fall under the budget line item labeled personnel cost. Don’t let the smoke and mirrors distract you. None of these benefits is a taxpayer ripoff. All are part of what we’re paid to serve the public. To put it bluntly, that’s our own money, folks.

Sunday, March 18 at 10:37 pm | Reply

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