Update on the pooled registered pension plan multilateral agreement (May 2017)
Information
The Multilateral Agreement Respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans (PRPP Agreement) has been in effect between the federal government and British Colombia, Nova Scotia, Quebec and Saskatchewan since June 15, 2016. As noted in InfoPensions 16, the PRPP Agreement is intended to streamline the regulation and supervision of pooled registered pension plans (PRPPs) that are subject to the federal Pooled Registered Pension Plans Act and the PRPP legislation of at least one province participating in the agreement.
In January 2017, the Government of Ontario signed the PRPP Agreement and became a party to that agreement effective March 31, 2017. Minor changes to the original agreement were made coincident with Ontario signing.