Capsa Multi Jurisdictional Agreement 2020

The 1968 Memorandum of Understanding, signed by all provinces except Prince Edward Island (where no pension legislation is in force), remains in effect for Manitoba and Newfoundland and Labrador that have not yet signed the 2020 MJPP Agreement. A minor but welcome change concerns the obligation to provide explanations to active members and others. The 2020 agreement now provides that declarations that must be made on a non-annual basis are subject to the rules of the lead authority. Ontario, for example, requires inactive returns to be provided every two years. These inactive statements were not covered by the reference to the “financial statements” of the 2016 agreement. Interestingly, the 2020 agreement does not explicitly address this form of communication, although several jurisdictions have recently amended pension legislation to allow for the electronic transmission of certain information (most recently Alberta). . . .