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ARTICLE · 21 DECEMBER 2011

Pooled Registered Pension Plan Act: Is this the Harper government’s Edsel?

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Bill C-25, an Act relating to Pooled Registered Pension Plans (PRPP) (Bill C25) passed first reading in the federal House of Commons on December 1, 2011.

CanadaEmployment and HR
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Background

Bill C-25, an Act relating to Pooled Registered Pension Plans (PRPP) (Bill C25) passed first reading in the federal House of Commons on December 1, 2011.

Bill C-25 is based on the federal government's "Framework for Pooled Registered Pension Plans", released in December 2010 following extensive consultation with the provinces and various industry stakeholders. Its stated purpose was to increase pension coverage among the 60 per cent of Canadian employees and self-employed individuals who do not participate in an employer-registered pension plan. The PRPP design is based on the perceived needs of both groups. The government PRPPs is promoting PRPPs as the most " accessible, straightforward and administratively low-cost retirement option".

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