Are the terms, conditions or administration of private pensions regulated in Canada?
The terms, conditions and administration of private pensions are regulated by both federal and provincial laws. In particular, the Pension Benefits Standards Act of 1985, sets out registration standards and provides for the administration of pension plans for employers of federal undertakings, including federal transportation undertakings, and places such plans under the supervision of the Superintendent of Insurance. The Act sets out reporting requirements and prohibits the refund of surplus without the Superintendent’s consent. In addition, pension plans must be approved under the Income Tax Act (Canada). Health Insurance Top Who does the health-care system cover in Canada? Unlike the United States, Canada has a public health-care system that covers all residents. Which level of government funds the health-care system in Canada? The system is funded by both the provincial and federal governments but is administered by the provincial governments. The money contributed by the federal g
