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The Pooled Registered Pension Plans Act of British Columbia came into force on May 4, 2016.
A revised Multilateral Agreement Respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans (the 2017 Agreement) will come into force on March 31, 2017. The 2017 Agreement adds Ontario as a party. The other changes in the 2017 Agreement relate to administrative matters and provide clarifications to the PRPP Agreement.
Under the PRPP Agreement, the authority granted to the Superintendent of Pensions appointed under the Pension Benefits Standards Act related to PRPPs may be exercised by the Superintendent of Financial Institutions appointed under the Office of the Superintendent of Financial Institutions Act (Canada). This means that licensed administrators wishing to offer a PRPP, as well as employers and employees wishing to participate in a PRPP, will have a single point of contact.
If you are interested in learning more about PRPPs, seeking a license to offer a PRPP or looking to offer or participate in a PRPP the links below will provide you with more information.
- Pooled Registered Pension Plans Act (British Columbia) and regulation
- Pooled Registered Pension Plans Act (Canada) and regulation
- PRPP Agreement
- The Second 2017 Agreement Amending the Multilateral Agreement Respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans
- OSFI PRPP Main Page
If you have questions or wish to learn more please contact the Office of the Superintendent of Financial Institutions (Canada).
Email: [email protected]
Telephone: (800) 385-8647