Helping Canadians save for their Retirement with Pooled Registered Pension Plans
In December 2010, Canada’s Finance Ministers agreed on a framework for defined contribution Pooled Registered Pension Plans (PRPPs) to provide Canadians with a new, low-cost, efficiently managed, portable and accessible savings vehicle that will help them meet their retirement objectives.
How They Will Work
Because PRPP members will “pool” their pensions through their administrators, costs will be lower.
And by providing this low-cost retirement savings opportunity for employees as well as the self-employed, PRPPs will play a key role in improving the range of retirement savings options available to Canadians.
This is especially important for millions of small business owners and their employees who will now have access to a private pension plan for the very first time.
Federal, provincial and territorial officials are working together to implement PRPPs as soon as possible, engaging with key stakeholders to ensure the framework for these new plans will meet the needs of employees, employers and those financial institutions that may offer PRPPs once they are implemented.
Bill C-25, the Pooled Registered Pension Plans Act received Royal Assent on June 28, 2012, which implements the federal portion of the PRPP framework. The PRPP framework will be fully in place across Canada pending provincial enabling legislation.
With the federal legislation in force, Provinces can now easily and seamlessly use it as a model for their respective frameworks so that the system can get up and running for Canadians on a timely basis.
Find Out More
Harper Government Takes Final Step in Development of Pooled Registered Pension Plans
Harper Government Pre-Publishes Second and Final Tranche of Pooled Registered Pension Plan Regulations
Harper Government Finalizes Initial Tranche of Pooled Registered Pension Plans Regulations
Pooled Registered Pension Plans: The Right Solution at the Right Time to Help Canadians Better Save for Their Retirement
Pooled Registered Pension Plans: Private Sector Pension Innovation to Help Secure a Healthy Retirement Income System
Harper Government Publishes Pooled Registered Pension Plan Regulations
Pooled Registered Pension Plans: A New Option for Millions of Canadians Without a Workplace Pension Plan
Harper Government Celebrates Royal Assent of Pooled Registered Pension Plans Act With Small Business Owners and Employees
Passage of Pooled Registered Pension Plans Act a Positive Step Towards Better Retirement Savings Options for Canadians
Minister Menzies Highlights Pooled Registered Pension Plans' Strengths for Small and Medium-Sized Business
Minister Menzies Speaks to C.D. Howe Institute on Boosting Retirement Savings Through Pooled Registered Pension Plans
Provincial and Federal Governments Partner Toward Introduction of Pooled Registered Pension Plans
Harper Government Introduces the Pooled Registered Pension Plans Act
Pooled Registered Pension Plans: Building a Stronger Retirement Income System for Canadians
Speech by the Honourable Ted Menzies, Minister of State (Finance) to the Investment Funds Institute of Canada
Ensuring a Strong Retirement System, Support for Provinces and Territories While Moving Towards Budget Balance
Framework for Pooled Registered Pension Plans
Harper Government Helping Canadians Save for Retirement
Speech by the Honourable Ted Menzies, Minister of State (Finance)
Contribute to the discussion
Interested Canadians are invited to submit their views on the implementation of the PRPP framework by email to email@example.com.