Keyword: PRPP

117 results found
An update on MEPPS, JSPPs and PRPPs

Squeezed by onerous funding requirements and overarching fiduciary duties, defined benefit plan sponsors are increasingly willing to embrace alternative structures — such as multi-employer pension plans, jointly sponsored pension plans and pooled registered pension plans — to relieve some of the pressure. “Most employers simply shouldn’t be in the business of running a pension plan, […]

CLHIA calling for pension innovation, access to cheaper drugs in provincial budgets

The Canadian Life and Health Insurance Association is highlighting new retirement savings options and access to cheaper drugs in its priorities for the Quebec and Newfoundland and Labrador provincial budgets. In its submission to Newfoundland’s finance minister, the CLHIA called for the government to make pooled registered pension plans available in the province. Citing Statistics Canada data that […]

  • By: Staff
  • February 4, 2020 November 30, 2020
  • 09:00
Pension plan sponsor appetite strong for new innovative design options

Across Canada, innovative pension plan design options are continuing to emerge for employers considering a move away from traditional single employer, in-house defined benefit or defined contribution plans.  During an event last week at Osler, Hoskin and Harcourt LLP’s office in Toronto, four pension industry professionals shared their experiences developing new plan design options. Speaking […]

On the same day Keith Dixon began working at the University of Victoria, the campus gained another new addition: its combination pension plan. Introduced in July 1968, the plan is fairly unique in the world of Canadian pensions. It operates on a defined contribution basis, with the university and plan members each contributing. But when […]

Ontario passes budget measures amending pension, PRPP acts

The Ontario government passed its 2018 budget measures on Tuesday, including amendments to the Pension Benefits Act and the Pooled Registered Pension Plans Act. The amendments to the Pension Benefits Act include removing the requirements related to age and years of employment or membership under the province’s pension benefits guarantee fund for plan windups on or after […]

  • By: Staff
  • May 8, 2018 September 13, 2019
  • 16:30
Ontario exploring decumulation, New Brunswick introducing PRPPs

Ontario’s fall economic statement confirmed a number of previously announced frameworks for the province’s pension, health-care and employment programs, including a look at addressing decumulation. The statement, delivered by Ontario’s Finance Minister Charles Sousa on Tuesday, noted the government is exploring new approaches to help retirees draw down their savings in an efficient, cost-effective manner so their savings […]

  • By: Staff
  • November 14, 2017 September 13, 2019
  • 17:20
OSFI touts progress of pension priorities, including PRPPs

The Office of the Superintendent of Financial Institutions has laid out its progress on a number of pension responsibilities in its 2016-17 report on plans and priorities, published Friday. One area of progress is pooled retirement pension plans, notes the report. Since OSFI acquired new responsibilities under the PRPP multilateral agreement, which came into effect in June 2016, […]

  • By: Staff
  • November 13, 2017 September 13, 2019
  • 09:00
OSFI defines eligible default investment options for PRPPs

The Office of the Superintendent of Financial Institutions has issued a guideline defining the eligible default investment options under pooled registered pension plans. The Pooled Registered Pension Plans Act specifies that if a member has the option to select investments from the variety provided by the administrator but fails to make a choice in the allotted time (60 days […]

Ontario Budget: Province to introduce PRPP changes

Ontario is introducing changes to the Pooled Registered Pension Plans Act, 2015 as well as other legislative pension amendments as part of its 2016 budget, which was unveiled on Thursday, Feb. 25. The goal of the PRPP changes is to “further facilitate harmonization with other jurisdictions and ensure the efficient operation of PRPPs,” according to […]

Federal government aims to streamline PRPP oversight

The federal government has launched a public comment period for an agreement intended to streamline the oversight of pooled registered pension plans (PRPPs).

  • By: Staff
  • July 16, 2015 September 13, 2019
  • 12:28