On November 8, 2016 the Ontario Pooled Registered Pension Plan (PRPP) Act and the PRPP Regulations came into effect.
The Ontario Government passed the Pooled Registered Pension Plan (PRPP) Act in the spring of 2015. This legislation is now in force. The Ontario PRPP is modeled after the Federal Government plan introduced in 2012. The PRPP is a new voluntary retirement savings tool. The plan is designed to operate like a defined contribution pension plan where resources are pooled from employees and employers. The new PRPP Act allows Ontario Businesses to offer pooled registered pension plans to their employees and provides self employed people the option to participate.
PRPPs offer a voluntary, low cost, tax assisted option to increase retirement savings. Learn more about the Ontario Pooled Registered Pension Plan Act.
