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ARTICLE · 22 AUGUST 2012

The First Wave of Federal PRPP Regulations

McCarthy Tétrault
McCarthy Tétrault
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Draft Pooled Registered Pension Plan Regulations and an accompanying Regulatory Impact Analysis Statement were released for public comment on August 10, 2012

CanadaEmployment and HR
Lorraine Allard
Lorraine Allard
Mark Firman
Mark Firman
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Draft Pooled Registered Pension Plan Regulations and an accompanying Regulatory Impact Analysis Statement were released for public comment on August 10, 2012. This package of regulations covers only some of those areas for which regulations supporting Bill C-25, the federal government's recently passed Pooled Registered Pension Plans Act (Act), are required. Another package of regulations is due to follow. The following are some of the most interesting aspects of the draft regulations.

Licensing

In order to be granted a licence to administer a pooled registered pension plan (PRPP), a would-be administrator will have to be a corporation, and it will have to file with the Office of the Superintendent of Financial Institutions Canada a five-year business plan explaining why it believes that the PRPPs it proposes to administer would be sustainable over that period; how many PRPPs it intends to register; how it intends to meet the Act's "low cost" requirement (more on

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