Why is the CRA (Registered Plans Directorate) changing how it monitors registered pension plans?
When the pension reform legislation and associated regulations were introduced in 1989, the Registered Plans Directorate concentrated on helping plan sponsors, administrators and consultants with the new registration requirements for plan wording. We feel that our clients now have the information and skills to correctly draft plan terms to obtain registration under this legislation. As a result, we are adjusting our focus and are expanding our audit program to ensure that pension plans are being operated in accordance with their terms and the legislation.
