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PRPP

The following events led the Canadian government to create the federal pooled registered pension plan (PRPP) to allow more Canadians to have access to a private group retirement plan.

  • The governments address the issue

    The governments address the issue

    The federal and provincial governments begin researching ways to facilitate access to retirement savings because:

    Financial markets are severely stressed
     Life expectancy is increasing
    Few private-sector workers have access to a pension plan

  • Creation of a working group

    Creation of a working group

    The Canadian government establishes a joint federal-provincial working group to examine retirement income adequacy.

  • Working group report

    Working group report

    The working group submits its summary report to the provincial and federal ministers of Finance.

  • Agreement among Finance ministers

    Agreement among Finance ministers

    The Finance ministers agree on a framework for establishing the PRPP.

  • Introduction of PRPP legislation

    Introduction of PRPP legislation

    The federal government introduces the Pooled Registered Pension Plans Act, which mainly governs PRPPs for employees with jobs under federal jurisdiction. 

  • Publication of tax rules

    Publication of tax rules

    The federal government releases its proposed PRPP tax rules.

  • The PRPP bill is adopted.

    The PRPP bill is adopted.

    Bill C-25, the Pooled Registered Pension Plans Act, is adopted by the House of Commons in Ottawa.

  • Coming into force of Bill C-25

    Coming into force of Bill C-25

    The federal PRPP comes into force on December 14, 2012. 

The federal pooled registered pension plan (PRPP) is a multi-employer group retirement plan designed by the government to help Canadians save for retirement.

Who is the federal PRPP for?

The federal PRPP is offered to employers and self-employed workers who carry out activities under federal jurisdiction, namely those who work in sectors such as:

  • Telecommunications
  • Interprovincial and international transport
  • Federal Crown corporations
  • Many First Nations activities
  • Banking
  • Airports and transport services
  • Naval ship building
  • Grain elevators and pipelines

The PRPP is also offered to self-employed workers in Yukon, the Northwest Territories and Nunavut, and to employees working in Yukon, the Northwest Territories or Nunavut for an employer who offers this plan.

The PRPP is not mandatory for self-employed workers or employers. Employers are free to decide if they wish to offer this plan to employees.

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Benefits Our federal PRPP solutionFederal PRPP set up

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