Will Ottawa’s PRPP plans be enough to improve pension coverage across Canada?
Is Canada finally facing the reality that meaningful pension reform can no longer be delayed? At first blush, it would appear so. Last December, federal Finance Minister Jim Flaherty met with provincial ounterparts in Victoria to forge a consensus on how to move ahead with Ottawa’s proposed pooled registered pension plan (PRPP). In February, Bill C-25—known as the Pooled Registered Pension Plans Act—passed second reading in the House of Commons and was referred to the Standing Committee on Finance.