Advisor.ca teamed up with our colleagues at Benefits Canada to bring you all the latest financial, pension and investing news from Canada’s most populous – and indebted – province.
In 2012, the federal government’s Pooled Registered Pension Plans Act was signed into law. The plan’s objective is to create a large-scale, inexpensive pension plan for employees of companies that don’t already offer a pension. But the federal government has limited jurisdiction over the workforce, so it had to collaborate with the provinces. Quebec’s version, […]
CRA and OSFI have approved Manulife's federal PRPP product.
Ottawa is pushing the provinces to move forward on PRPPs.
The Government of British Columbia is introducing legislation for PRPPS.
Canadian finance ministers have realized Canadians aren’t saving enough for retirement.
A survey of Canadians by Manulife Financial found that respondents were twice as likely to support a Pooled Registered Pension Plan (PRPP) (64%) than increase their CPP or QPP contributions (34%) as a way of saving more for retirement.
Declining pension coverage, shrinking nest eggs and persistent financial instability have shifted Canadians’ retirement focus from enjoying freedom to financial survival.
The Harper Government has pre-published regulatory proposals to address provisions of the Pooled Registered Pension Plans Act (Bill C-25), says Ted Menzies, Minister of State (Finance). “These proposed regulations take us one step closer to a new large-scale and low-cost defined contribution pension option for millions of Canadians currently without access to a workplace pension […]
Standard Life has launched a new Pooled Registered Pension Plan website, given that retirees and aging clients are starting to seriously consider their wealth accumulation options. Read: An advisors guide to PRPPs The Canadian industry is waiting for a number of details to be determined by governments, including criteria that’ll determine the administrative costs of […]