Ottawa is pushing the provinces to move forward on pooled registered pension plans (PRPPs), says Doug Watt, an Ottawa-based writer.
He notes the 2013 Budget document stresses, “PRPPs will provide a new, accessible, large-scale and low-cost pension option to employers, employees and the self-employed, [so] provinces will need to introduce their own enabling legislation to make PRPPs available.”
This renewed drive isn’t really a surprise, considering PRPP plans were first announced a couple years ago. So says Ian Edelist, pension practice leader at consultancy firm Eckler. He spoke to told Watt following the Budget’s release.
Read more on the Budget’s retirement measures.