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Monday, March 27, 2017
Financial and Consumer Affairs Authority

Agreement Respecting Multi-Jurisdictional Pension Plans

Representatives of the governments of Saskatchewan, British Columbia, Nova Scotia, Ontario and Quebec have signed the 2016 Agreement Respecting Multi-Jurisdictional Pension Plans (the 2016 Agreement), which comes into effect for these jurisdictions on July 1, 2016. 

The 2016 Agreement was developed by The Canadian Association of Pension Supervisory Authorities (CAPSA) to provide a clear legal framework for the administration and regulation of multi-jurisdictional pension plans.  Multi-jurisdictional pension plans are registered in only one jurisdiction, but have members in more than one jurisdiction (i.e. province, territory, or federal jurisdiction).

CAPSA issued a communique with respect to the 2016 Agreement on June 2, 2016. More information is available at this link: http://www.capsa-acor.org/en/init/mulit_juris_plans/.

The 2016 Agreement replaces the 1968 Memorandum of Reciprocal Agreement (1968 Agreement) with respect to the current signatories to the 2016 Agreement. The 1968 Agreement continues to apply between Saskatchewan and the remaining provinces.  In addition, the 1969 Memorandum of Reciprocal Agreement between Saskatchewan and the Government of Canada continues to apply.

Plan Administrators must review their plan documents, administrative practices and member disclosure items to ensure compliance with The Pension Benefits Act, 1992, the requirements of the 2016 Agreement and, to the extent that either applies, the 1968 Agreement/1969 Federal Agreement.



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