CAPSA

Issue

The administration of multi-jurisdictional plans has been challenging for pension plan administrators.  In addition to clarification of jurisdictional governance, there is a need for detailed guidance on issues not currently addressed in pension standards legislation – allocation of assets among jurisdictions on plan wind-up or asset transfer.

Action to Date

In October 2008, the Canadian Association of Pension Supervisory Authorities (CAPSA) proposed an Agreement Respecting Multi-Jurisdictional Pension Plans, requesting review and comment from stakeholders.  The ACPM submitted a response in January 2009.

As of April 22nd, 2009, CAPSA has completed its review of input from stakeholders and is developing a revised Agreement in light of their comments.  Once completed, the revised Agreement will be sent for consideration to those governments across Canada with pension legislation in force.

In line with their mission, CAPSA developed the 2020 Agreement Respecting Multi-JurisdictionalPension Plans (2020 Agreement). The following governments have signed the 2020 Agreement, which will govern the administration and regulation of multi-jurisdictional pension plans (MJPPs) between their jurisdictions effective July 1, 2020: Alberta, British Columbia, New Brunswick, Nova Scotia, Ontario, Quebec, Saskatchewan, Canada (federal).

Submission/Publications

• 2020 Agreement
• CAPSA Communique - Adoption of Agreement
• Agreements Respecting Multi-jurisdictional Pension Plans
• Changes from 2016 Agreement
• Consultation Paper
• ACPM Letter to CAPSA re. Multi-Jurisdictional Pension Plans, January 19, 2011
• CAPSA, January 25, 2009
• Guidelines

• Pension Plan Governance