On September 9, 2015, the Nova Scotia Department of Finance and
Treasury Board opened a consultation on draft Regulations for
Pooled Registered Pension Plans (PRPPs). The draft Regulations and
an FAQ are posted online. PRPPs are
voluntary retirement savings plans in which employees and employers
may choose to pool contributions and administration costs with
other participants. Employers and employees decide how much they
contribute to the plan. Third party administrators must be licensed
in order to provide PRPPs and several insurance companies are
currently licensed federally.
The Nova Scotia Legislature passed the PRPP Act in the
fall of 2014 (for more information on the PRPP Act, see a
summary
here) but it has not yet been proclaimed in force as
regulations still need to be finalized. In the PRPP Act,
the Nova Scotia government largely adopted the federal Pooled
Registered Pension Plans Act (Canada); similarly, the proposed
Regulations largely mirror the federal
