Pooled Registered Pension Plans Act (S.C. 2012, c. 16)

Assented to 2012-06-28

Pooled Registered Pension Plans Act

S.C. 2012, c. 16

Assented to 2012-06-28

An Act relating to pooled registered pension plans and making related amendments to other Acts


This enactment provides a legal framework for the establishment and administration of pooled registered pension plans that will be accessible to employees and self-employed persons and that will pool the funds in members’ accounts to achieve lower costs in relation to investment management and plan administration.

Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:


Marginal note:Short title

 This Act may be cited as the Pooled Registered Pension Plans Act.


Marginal note:Definitions
  •  (1) The following definitions apply in this Act.



    administrator means the holder of a licence issued under section 11 or an entity designated by the Superintendent under subsection 21(1). (administrateur)

    common-law partner

    conjoint de fait

    common-law partner, in relation to an individual, means a person who is cohabiting with the individual in a conjugal relationship, having so cohabited for a period of at least one year. (conjoint de fait)

    common-law partnership

    union de fait

    common-law partnership means the relationship between two persons who are common-law partners of each other. (union de fait)

    designated province

    province désignée

    designated province means a province designated in the regulations. (province désignée)

    electronic document

    document électronique

    electronic document means any form of representation of information or of concepts fixed in any medium by electronic, optical or other similar means that can be read or perceived by a person or by any means. (document électronique)



    employee means an individual who holds a position that entitles that individual to a fixed or ascertainable stipend or remuneration and includes an individual who holds the position of an officer or director of a corporation or other organization or of an agent or mandatary acting for a principal or mandator. (salarié)



    employer, in relation to an employee, means the person or organization that employs the employee and includes their assigns or successors. (employeur)



    employment means the performance by an employee of work for an employer under an express or implied contract of service or apprenticeship, and includes the tenure of an office. (emploi)

    included employment

    emploi visé

    included employment means employment — other than employment by Her Majesty in right of Canada or any employment that is excluded by the regulations — on or in connection with the operation of any work, undertaking or business that is within the legislative authority of the Parliament of Canada. (emploi visé)



    member means a person who holds an account with a pooled registered pension plan. (participant)



    Minister means the Minister of Finance. (ministre)

    multilateral agreement

    accord multilatéral

    multilateral agreement means an agreement entered into under subsection 6(1). (accord multilatéral)

    pooled registered pension plan

    régime de pension agréé collectif

    pooled registered pension plan means a plan registered under section 12. (régime de pension agréé collectif)


    Version anglaise seulement

    prescribed means prescribed by regulation. (Version anglaise seulement)



    spouse, in relation to an individual, includes a person who is party to a void marriage or, in Quebec, null marriage with the individual. (époux)



    Superintendent means the Superintendent of Financial Institutions appointed under section 5 of the Office of the Superintendent of Financial Institutions Act. (surintendant)



    survivor, in relation to a deceased member, means

    • (a) if there is no person described in paragraph (b), the member’s spouse at the time of the member’s death; or

    • (b) the common-law partner of the member immediately before the member’s death.



    winding-up, in relation to a pooled registered pension plan, means the distribution of the assets of a plan that has been terminated. (liquidation)

    Year’s Maximum Pensionable Earnings

    maximum des gains annuels ouvrant droit à pension

    Year’s Maximum Pensionable Earnings has the same meaning as in subsection 2(1) of the Canada Pension Plan. (maximum des gains annuels ouvrant droit à pension)

  • Marginal note:Meaning of “spouse or common-law partner”

    (2) Except in section 53, a reference to a “spouse or common-law partner” in respect of a member means the common-law partner of the member in the case where the member has both a spouse from whom they are separated and a common-law partner with whom they are cohabiting.

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