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ARTICLE · 07 SEPTEMBER 2011

PRPPs Are Coming

McMillan LLP
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Based on growing concern about the adequacy of employment-related retirement planning opportunities and the level of retirement savings among Canadians, in December 2010, the federal Department of Finance released its "Framework for Pooled Registered Pension Plans".

CanadaEmployment and HR
McMillan LLP
McMillan LLP
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Employment And Labour Newsletter – August, 2011

Based on growing concern about the adequacy of employment-related retirement planning opportunities and the level of retirement savings among Canadians, in December 2010, the federal Department of Finance released its "Framework for Pooled Registered Pension Plans". Federal and provincial Finance Ministers chose to focus on developing a framework for pooled registered pension plan ("PRPPs") because PRPPs were seen as the best way to quickly provide an "accessible, straightforward and administratively low-cost retirement option". The Finance Ministers also agreed to continue considering other options including enhancing the Canada Pension Plan, tax incentives and registered pension plan reform.

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