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ARTICLE · 25 NOVEMBER 2011

Federal Government Introduces "Pooled Registered Pension Plans Act"

McCarthy Tétrault
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On November 17, 2011, the Honourable Ted Menzies, Minister of State (Finance), and the Honourable Christian Paradis, Minister of Industry, introduced the "Pooled Registered Pension Plans Act" (Proposed Act) as a first step in the implementation of Pooled Registered Pension Plans (PRPPs).

CanadaEmployment and HR
Lorraine Allard
Lorraine Allard
Randy Bauslaugh
Randy Bauslaugh
Mark Firman
Mark Firman
Gregory Winfield
Gregory Winfield
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On November 17, 2011, the Honourable Ted Menzies, Minister of State (Finance), and the Honourable Christian Paradis, Minister of Industry, introduced the Pooled Registered Pension Plans Act (Proposed Act) as a first step in the implementation of Pooled Registered Pension Plans (PRPPs). The government describes the PRPP as a change to Canada's pension landscape that will make saving for retirement easier for millions of Canadians. The legislation generally reflects the concepts from the December 2010 draft report entitled, Framework for Pooled Registered Retirement Savings Plans (see our December 2010 e-Alert). Provincial legislative amendments and changes to the Income Tax Act (Canada) (ITA), are also necessary to fully implement national PRPPs.

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