Preface

• Author: Ari Kaplan/Mitch Frazer
• Pages: 33-37

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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 arising

from employment in Canada. The expres sion arising from employment

means that the pension plans are those ba sed on the “private” employ-

ment relationship — that is, plans sponsored by employers or trade

unions, that are registered both with the Can ada Revenue Agency for

tax purposes, and with a provinci al 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 dierentiation must be made between “reg istered” pension

plans and other retirement vehicles. Reg istered pension plans do not

include government-sponsored universal retirement progra ms such as

Canada Pension Plan (and its Quebec counterpar t, the Quebec Pension

Plan), the federal Old Age Security program (including the Guaranteed

Income 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 and deferred

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

accounts (such as a personal RRSP). These forms of retirement vehi-

cles, while comprising a sign if‌icant element of the Canadian retirement

landscape, fal l outside the scope of this book.