News Briefs

Federal PRPP provisions now in force; Manitoba to scrap minimum wage exemption
|Canadian HR Reporter|Last Updated: 01/14/2013

Federal PRPP provisions now in force

OTTAWA — The second and final tranche of regulatory proposals to address provisions of the federal Pooled Registered Pension Plans Act have come into force. Provisions include: licensing conditions for potential plan administrators; investment rules that provide minimum safeguards to protect plan members’ interests; investment choices that provide flexibility to plan administrators; limits on inducements that plan administrators will be allowed to offer; low-cost criteria; the rights and obligations around a contribution rate of zero per cent; information that plan administrators must disclose; the withdrawal of funds; variable payments; transfer options; and electronic means for communications.

Manitoba to scrap minimum wage exemption