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Request to the Canada Revenue Agency to suspend minimum employer contributions to DC pensions

Release Date: 04/13/2020
Staff Reference: Ronald Sanderson

In order to preserve existing money purchase pension plans and protect secure retirement incomes for plan members and their beneficiaries, we believe that a temporary suspension of the required one percent minimum employer contribution to money purchase pensions would prevent un-intended winding up of such plans, and that this would be a prudent and responsible alternative. We therefore encourage the Agency to move forward quickly with measures necessary to facilitate such a suspension.