TORONTO, May 15, 2023 /CNW/ - CAPSA is pleased to announce that Manitoba and Newfoundland and Labrador have joined the original governments that are party to the 2020 Agreement Respecting Multi-jurisdictional Pension Plans (2020 Agreement), through an amendment to the 2020 Agreement that becomes effective July 1, 2023. As a result, all jurisdictions in Canada that have pension legislation, and all multi-jurisdictional pension plans in Canada, will be subject to the 2020 Agreement.
The 2020 Agreement established a clear legal framework for the administration and regulation of multi-jurisdictional pension plans in Canada since 2020. The 2020 Agreement with the 2023 Amending Agreement is effective July 1, 2023 and will replace all prior agreements between individual governments. Information about the 2020 Agreement and its application to multi-jurisdictional pension plans in Canada can be found on the CAPSA website.
"CAPSA is pleased to welcome Manitoba and Newfoundland and Labrador into the 2020 Agreement Respecting Multi-jurisdictional Pension Plans. The Agreement will continue to protect member entitlements and ease the regulatory burden for all multi-jurisdictional pension plans in Canada," said Angela Mazerolle, Chair of CAPSA and Vice-President, Regulatory Operations and Superintendent of Pensions, New Brunswick.
The mission of the Canadian Association of Pension Authorities (CAPSA) is to facilitate an efficient and effective pension regulatory system in Canada.
Media Contact:
Russ Courtney
(For English media – Toronto)
437-225-8551
Sylvain Théberge
(For Francophone media – Montréal)
514-940-2176
SOURCE Canadian Association of Pension Supervisory Authorities
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