Hugh Wright
Hugh Wright, Lawyer, McInnes Cooper
Rhea McGarva
Rhea McGarva, Litigation Director of Research, McInnes Cooper

As of June 25, 2016, provincially regulated workers and employers in Nova Scotia, Quebec, BC and Saskatchewan can participate in Pooled Registered Pension Plans (PRPP) regulated by the Federal Government. Pan Canadian PRPPs can now be offered on a cost-effective basis in participating jurisdictions, with regulation and supervision occurring largely or entirely at the federal level.

PRPPs are an alternative funding and administrative model for pension plans that allow employers and non-employment based groups to participate in pension plans offered by qualified financial institutions. Small and medium-sized business (SME) employers, in particular, will benefit from the anticipated efficiencies and investment leverage that PRPPs offer.

PRPPs have been gaining momentum in Canada over the last two years. Nova Scotia introduced PRPP legislation in October 2014, sought public input on the draft laws in Fall 2015 and the PRPP laws took effect in May 2016. The other participating provinces have taken similar steps. The final step to making PRPPs a reality in NS, BC and Saskatchewan (and Quebec to facilitate PRPP administration with Quebec’s Voluntary Retirement Savings Plans) was signing the Multilateral Agreement Respecting Pooled Registered Pension Plans And Voluntary Retirement Savings Plans to facilitate the administration and oversight of PRPPs. The participating provincial governments signed the Multilateral Agreement on June 7, 2016, and the Federal Government signed it on June 10, 2016. The Multilateral Agreement took legal effect on June 25, 2016.

To discuss this or any other legal issue, contact any member of McInnes Cooper’s Pensions & Benefits Team. Read more McInnes Cooper Legal Publications and subscribe to receive those relevant to your business.

 McInnes Cooper prepared this article for information; it is not legal advice.  Consult McInnes Cooper before acting on it. McInnes Cooper excludes all liability for anything contained in or any use of this article. © McInnes Cooper, 2016.  All rights reserved. 

About the authors:

Hugh Wright is a lawyer with McInnes Cooper and leader of the firm’s Pensions and Benefits Group. Hugh advises and acts for pension plan sponsors, administrators, employee groups and governments in all areas of the pensions and benefits field. You can reach Hugh at

Rhea McGarva is the Litigation Director of Research at McInnes Cooper. She obtained her LL.B. from Dalhousie University in 1992 and has practiced both privately and for Legal Aid.