Suzanne Sharma
The Federal Government has passed Bill C-25, the Pooled Registered Pension Plan (PRPP) Act. It provides a legal framework for the establishment and administration of a pension plan accessible to employees and self-employed persons.
“The federal government is taking steps to increase the number of retirement income options for Canadians,” says the Association of Canadian Pension Management (ACPM) president Chris Brown.
PRPPs allow for the pooling of members’ funds to lower the costs of investment management and plan administration.
Brown says improved legislations and regulations by all levels of government will ensure this new PRPP model works for administrators, employers and employees saving for retirement nationwide.