The Observer


ACPM Advocacy

On behalf of our members, ACPM has received a statement of intention from the Department of Finance Canada to recommend an amendment to the Income Tax Regulations (the Regulations) to facilitate the administration of registered pension plans (RPPs) during the COVID-19 pandemic.  The amendment extends the April 30, 2020, deadline to include in a member’s pensionable service a period of reduced services in 2019.  The deadline has been extended from April 30 to June 1, 2020 or such later date as is acceptable to the Minister of National Revenue. The recommended amendment is intended to address RPP administrators’ concerns that they would not be able to communicate with and obtain decisions from plan members who have completed such periods of reduced services during 2019 by the original April 30, 2020 deadline under the Regulations.  ACPM is pleased to communicate this relief to our members and thanks the Department of Finance for assisting Canadian pension plan administrators at this challenging time. Read the letter HERE.


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