Bills to enact Pooled Registered Pension Plans

May 16, 2013 Yosie Saint-Cyr, LL.B. Managing Editor Employee Relations, HR Policies and Procedures, Human Resources, Payroll, Pensions and Benefits, Source Deductions and Reporting, Wages and Compensation

As anticipated, since the federal Pooled Registered Pension Plans Act came into force December 14, 2012, several provinces have followed suit and tabled legislation to implement the new kind of portable deferred income plan, which is designed to provide retirement income to workers and self-employed persons who do not have access to an employer-sponsored retirement pension plan.

Although the proposed provincial laws are similar in spirit because they are subject to the requirements set out in the federal Act, some provinces like Quebec have added their own distinct requirements.

All these provincial retirement plans provide a simple, effective and low-cost way of improving pension coverage for employees of small and medium-sized businesses and the self-employed.

For more, read my latest post on Slaw.

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Yosie Saint-Cyr, LL.B. Managing Editor

Managing Editor at First Reference Inc.

Yosie Saint-Cyr, LL.B., is a trained lawyer called to the Quebec bar in 1988 and is still a member in good standing. She practiced business, employment and labour law until 1999. For over 18 years, Yosie has been the Managing Editor of the following publications, Human Resources Advisor, Human Resources PolicyPro, HRinfodesk and Accessibility Standards PolicyPro from First Reference. Yosie is one of Canada’s best known and most respected HR authors, with an extensive background in employment and labour across the country. Read more