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

Marginal note:Administration of plan and assets

• 22 (1) The administrator must administer the pooled registered pension plan and its assets as a trustee for the members.

• Marginal note:Standard of care

  (2) In the administration of the pooled registered pension plan and its assets, the administrator must exercise the degree of care that a reasonably prudent person would exercise in dealing with the property of another person and the diligence and skill that it possesses, or ought to possess, taking into account the administrator’s business.

• Marginal note:Pooling

  (3) The funds in members’ accounts may be pooled for the purposes of investing the assets of a pooled registered pension plan.

• Marginal note:Manner of investing

  (4) The administrator must invest the funds in members’ accounts and must do so in a manner that a reasonable and prudent person would apply in respect of a portfolio of investments appropriate for retirement savings.

• Marginal note:Investment managers

  (5) The administrator is entitled to engage the services of any investment manager it chooses for the purposes of investing the funds in members’ accounts.