Manulife gets PRPP licence

By Staff | September 6, 2013 | Last updated on September 6, 2013
1 min read

The Office of the Superintendent of Financial Institutions (OSFI) has issued Manulife Financial a license to administer federal Pooled Registered Pension Plans (PRPPs). It’s the first Canadian company to be issued this license.

Read: Ottawa pushes for PRPP implementation

Once final registration of Manulife’s PRPP product is received from OSFI and the Canada Revenue Agency (CRA), it can be offered to federally-regulated businesses across Canada, and to any business or self-employed individuals within the Yukon, Northwest Territories and Nunavut.

Employees of businesses in the Yukon, Nunavut and the Northwest Territories are also eligible to participate in a PRPP, even if their employer has not yet implemented a formal plan.

Read: B.C. tables PRPP legislation

Saskatchewan and Alberta have also passed their own PRPP Acts. The next step for these provinces will be to develop the regulations necessary for the legislation to be implemented. Once other provinces release their own PRPP legislation, Manulife will offer plans to their residents, businesses and self-employed individuals.

Also read: PRPP detractors are missing the point staff


The staff of have been covering news for financial advisors since 1998.