Office of the Superintendent of Financial Institutions
The Department of Finance Canada has announced the signing of the 2020 Agreement Respecting Multi-Jurisdictional Pension Plans (2020 Agreement). The federal government, together with governments of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, New Brunswick and Nova Scotia, has signed the 2020 Agreement to simplify and clarify the supervision of pension plans in Canada with members in more than one jurisdiction.
The 2020 Agreement was developed by the Canadian Association of Pension Supervisory Authorities (CAPSA) in order to coordinate and harmonize pension regulation across Canada.
Among other elements, the 2020 Agreement
Please refer to CAPSA’s news release and OSFI’s new FAQ series for additional details on the 2020 Agreement.
The 2020 Agreement will come into effect on July 1, 2020.