In 2012, the federal government’s Pooled Registered Pension Plans Act was signed into law. The plan’s objective is to create a large-scale, inexpensive pension plan for employees of companies that don’t already offer a pension. But the federal government has limited jurisdiction over the workforce, so it had to collaborate with the provinces. Quebec’s version, […]
A survey of Canadians by Manulife Financial found that respondents were twice as likely to support a Pooled Registered Pension Plan (PRPP) (64%) than increase their CPP or QPP contributions (34%) as a way of saving more for retirement.
The Harper Government has pre-published regulatory proposals to address provisions of the Pooled Registered Pension Plans Act (Bill C-25), says Ted Menzies, Minister of State (Finance). “These proposed regulations take us one step closer to a new large-scale and low-cost defined contribution pension option for millions of Canadians currently without access to a workplace pension […]
Standard Life has launched a new Pooled Registered Pension Plan website, given that retirees and aging clients are starting to seriously consider their wealth accumulation options. Read: An advisors guide to PRPPs The Canadian industry is waiting for a number of details to be determined by governments, including criteria that’ll determine the administrative costs of […]