Preface

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

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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 ari s-

ing from employment in Canada. The expre ssion arising from employ-

ment means that the pen sion plans are those ba sed 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 pur poses. 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 Canad a

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 scheme s for low-income persons. Pension plans must also

be distinguished from other employment-based retirement arra nge-

ments such as group registered retirement savings plans a nd deferred

prof‌it sharing plans. Nor do pension plans include individual savi ngs

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

while comprising a signif‌icant element of the Canadian retirement

landscape, fal l outside the scope of this book.