A new retirement savings option for Canadians! A pooled registered pension plan (PRPP) is a new, accessible, straightforward retirement savings option for employed and self-employed individuals who do not have access to a workplace pension plan or where a workplace pension plan does not exist.
A PRPP enables its members to benefit from lower administration costs that result from participating in a large, pooled pension plan. It’s also portable, so it moves with its members from job to job. Since the investment options within a PRPP are similar to those for registered retirement savings plans (RRSPs), its members can benefit from greater flexibility in managing their savings and meeting their retirement objectives.
For More Information please visit the CRA’s website.