Notice Regarding Pooled Registered Pension Plans (PRPPs)
The Government of Nova Scotia proclaimed in force the Pooled Registered Pension Plans Act effective May 4, 2016. In addition, Pooled Registered Pension Plans Regulations and consequential amendments to the Pension Benefits Regulations were made effective May 4, 2016.
Paula Boyd has been appointed as the Superintendent of Pooled Registered Pension Plans.
On June 15, 2016, the Multilateral Agreement Respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans (“the PRPP Agreement”), signed by Nova Scotia, the federal government, Quebec and other provinces that put in place PRPP legislation came into effect. Under this agreement, the federal Office of the Superintendent of Financial Institutions (OSFI) will be responsible for the licensing, registration and supervision of PRPPs. Employers in Nova Scotia can now offer PRPPs as workplace savings plans for their employees.
The PRPP Agreement is amended, effective March 31, 2017, to include Ontario as a party to the Agreement.
2017 PRPP Amending Agreement (pdf)
2016 PRPP Agreement (pdf)
The PRPP Agreement is further amended, effective November 15, 2017, to include Manitoba as a party to the Agreement.
Second 2017 PRPP Amending Agreement (pdf)
Second 2017 PRPP Amending Agreement - Annex One (pdf)
Second 2017 PRPP Amending Agreement - Annex Two (pdf)
A consolidated version of the PRPP Agreement can be found at http://www.osfi-bsif.gc.ca/Eng/pp-rr/ppa-rra/prpp-rpac/Pages/PRPP-MLA.aspx
The Act and Regulations can be viewed at: