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ARTICLE · 29 JULY 2015

Risk-Based Pension Plan Review Announced By Canada Revenue Agency

Borden Ladner Gervais LLP
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On July 18th, 2015, the Canada Revenue Agency ("CRA") announced changes to its registered pension plan review process, which will be based upon risk criteria.

CanadaEmployment and HR
Pamela Cross
Pamela Cross
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On July 18th, 2015, the Canada Revenue Agency ("CRA") announced changes to its registered pension plan review process, which will be based upon risk criteria.1 These changes stem from the results of a recent pilot project conducted by the CRA for the purpose of identifying areas of risk. This BLG Pension Alert summarizes the CRA's Comprehensive Risk-Based Cyclical Review of Registered Plans, which will be of interest to pension plan administrators, plan sponsors and other industry stake-holders.

New changes in the CRA review process

Historically, plan amendments have been reviewed on a first-come, first-served basis. Under the new process, although receipt of all plan amendment applications will be confirmed by letter, only plan amendments identified as raising a high risk issue will be reviewed. For all registered plans, the CRA reviews the plan (including all amendments received since the last comprehensive review) at least once every 6 year cycle. The CRA will

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