On Tuesday, March 27, the Ontario Government introduced its 2012 Budget, which is entitled Strong Action for Ontario (the “Budget”). The Government also introduced Bill 55, the Strong Action for Ontario Act (Budget Measures), 2012 (“Bill 55”), omnibus legislation designed to implement a number of the proposals contained in the Budget. The Budget sets out…
Tag: Pooled Registered Pension Plans (PRPP)
Québec Budget 2012
On March 20, 2012, the Quebec government introduced its 2012-13 Budget. As expected, the government is moving forward with the joint federal-provincial initiative to provide small business owners and their employees with access to large-scale, low-cost, professionally administered pension plans. Accordingly, the Budget introduces Voluntary Retirement Savings Plans (“VRSPs”), mandatory group pension plans that all…
Federal Pooled Registered Pension Plan (“PRPP”) Legislation Referred to Committee
On February 1, 2012, Bill C-25, An Act relating to pooled registered pension plans and making related amendments to other Acts passed at Second Reading in the House of Commons, and was referred to the Standing Committee on Finance. As previously reported, Bill C-25 is new legislation implementing the framework for federally regulated PRPPs, and…
Pooled Registered Pension Plan Framework Introduced
On November 17, 2011, the federal government introduced the much anticipated Bill C-25, An Act relating to pooled registered pension plans and making related amendments to other Acts, also known as the Pooled Registered Pension Plans Act (the “PRPP Act”). The proposed legislation follows high-profile consultations with the provinces and the industry, which resulted in…
Federal Pooled Registered Pension Plan (“PRPP”) Legislation Introduced
On November 17, 2011, the Minister of State (Finance) and the Minister of Industry announced the introduction of Bill C-25, An Act relating to pooled registered pension plans and making related amendments to other Acts, new legislation implementing the framework for the federal component of the PRPP. The government will shortly release draft tax rules…