Time for More Harmony in Canadian Pension Rules: C.D. Howe Institute



    TORONTO, Aug. 26 /CNW/ - Canada's maze of provincial pension regulations
discourages the creation of national, single-employer pension plans, at a time
when 60 percent of working Canadians do not have private pensions sponsored by
their employer, according to a study released today by the C.D. Howe
Institute. In The Pension Tangle: Achieving Greater Uniformity of Pension
Legislation and Regulation in Canada, author Gretchen Van Riesen says national
single-employer pension plans covering employees across Canada are at a very
fragile juncture. Cross-jurisdictional differences in pension legislation and
regulation make it less likely an employer with employees in more than one
province will establish a registered pension plan. This is counter-productive,
given that Canadians face a serious gap in pension coverage, says the author.
    To address the problem, Ms.Van Riesen suggests four options for
regulatory reform and harmonization. All of them incorporate better
harmonization of pension legislation. The options are: one law, one regulator;
a model law across Canada with multiple regulators; multiple jurisdictional
laws with one regulator; and multiple jurisdictional laws with multiple
regulators. Van Riesen notes that a single law and regulator is the most
efficient approach to address the uniformity issue, but may also require
resolving constitutional issues.
    For the study click here. http://www.cdhowe.org/pdf/commentary_294.pdf




For further information:

For further information: Gretchen Van Riesen, GVR Consulting or William
Robson, C.D. Howe Institute, (416) 865-1904


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