The Canadian Association of Pension Supervisory Authorities (CAPSA) announced May 15 that Manitoba and Newfoundland and Labrador have joined the remaining governments already party to a 2020 agreement – the 2020 Agreement Respecting Multi-jurisdictional Pension Plans. An amendment to the 2020 agreement to include the two provinces becomes effective July 1. “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,” they state in an announcement about the committee’s changes.
“The 2020 agreement established a clear legal framework for the administration and regulation of multi-jurisdictional pension plans in Canada since 2020,” they add, stating that the agreement will now replace all relevant prior agreements made between individual governments.
“CAPSA is pleased to welcome Manitoba and Newfoundland and Labrador into the 2020 Agreement Respecting Multi-jurisdictional Pension Plans,” says CAPSA chair, vice president of regulatory operations and the superintendent of pensions in New Brunswick, Angela Mazerolle. “The agreement will continue to protect member entitlements and ease the regulatory burden for all multi-jurisdictional pension plans in Canada.”
