2020 Agreement Respecting Multi-jurisdictional Pension Plans

Summary:

The Memorandum of Reciprocal Agreement between Canadian provinces and the federal government has undergone changes since its inception in 1968. The agreements, which governed multi-jurisdictional pension plans, were replaced by the 2020 Agreement Respecting Multi-jurisdictional Pension Plans (2020 Agreement) as amended by the 2023 Agreement Amending the 2020 Agreement (2023 Amending Agreement) as of July 1, 2023. The 2023 Amending Agreement brought Manitoba and Newfoundland and Labrador under the 2020 Agreement, making all Canadian jurisdictions with pension legislation and multi-jurisdictional pension plans subject to this agreement. The 2020 Agreement ensures that certain provisions of the major authority's legislation apply to multi-jurisdictional pension plans, rather than those of the minor authorities.