Preface

• Author: Ari Kaplan, Mitch Frazer
• Pages: 31-34

xxxi

PR EFAC E

The purpose of this book is to a ssist readers in understanding the basic

concepts of the law and regulation of registered pension plans aris-

ing from employment in Canada. The expression arising from employ-

ment means that the pension plans are those based on the “private”

employment relationship — that is, plans sponsored by employers or

trade unions, that are reg istered both with the Canada Revenue Agency

for tax purposes, and with a provincial or the federal pension regulator

for pension standards purposes. These include pension plans covering

employees in both the private sector and the broader public sector in all

three levels of government.

A differentiation must be made between “registered” pension plans

and other retirement vehicles. Registered pension plans do not include

government-sponsored universal retirement programs such as Canada

Pension Plan (and its Quebec counterpart, the Quebec Pension Plan),

the federal Old Age Security program (including the Guaranteed In-

come Supplement and Spouse’s Allowance), or the various provincial

assistance schemes for low-income persons. Pension plans must also

be distinguished from other employment-based retirement arrange-

ments such as group registered retirement savings plans and deferred

prof‌it sharing plans. Nor do pension plans include individual savings

accounts (such as a personal RRSP). These forms of retirement vehicles,

while comprising a signif‌icant element of the Canadian retirement

landscape, fall outside the scope of this book.