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 based on the “private” employ-

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

unions, that are registered 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 dierentiation 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

Income 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 vehi-

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

landscape, fall outside the scope of this book.