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

Marginal note:Advance notice to employees

• 41 (1) At least 30 days before entering into a contract with an administrator to provide a pooled registered pension plan to a class of employees, an employer must notify in writing each employee of that class of

  • (a) its intention to enter into the contract;

  • (b) any existing business relationships it has with the administrator of the plan; and

  • (c) the right of any employee to object to being a member of the plan because of their religious beliefs.

• Marginal note:Notice of plan membership

  (2) As soon as feasible after the employer enters into the contract with the administrator to provide a pooled registered pension plan to a class of employees, either the administrator or the employer must notify in writing each employee of that class of their membership in the plan. The notice must

  • (a) inform them of a member’s right to terminate their membership in the plan by notifying the employer within 60 days after receiving the notice; and

  • (b) include the prescribed information.

• Marginal note:Contract must specify

  (3) The contract referred to in subsection (2) must specify whether it is the employer or the administrator who has the duty to provide the notification under that subsection.

• Marginal note:New employee

  (4) As soon as feasible after the employer hires an employee who is part of the class of employees who are members of the pooled registered pension plan, the notice referred to in subsection (2) must be provided to that employee.

• Marginal note:Membership termination

  (5) An employee may terminate their membership in a pooled registered pension plan by notifying the employer within 60 days after receiving notice under subsection (2).