The Canadian Association of Pension Supervisory Authorities (CAPSA) published a Pension Awareness Day release promoting retirement planning and encouraging eligible workers to opt in to employer-sponsored registered pension plans as early as possible. CAPSA noted that its member regulators oversee the rights and responsibilities of members in more than 16,000 active workplace registered pension plans, and highlighted that these plans can help members grow savings on a tax-deferred basis. It cited research indicating that workplace pension coverage can support more efficient saving, while as many as 27% of those eligible for employer-sponsored plans choose not to participate. The release also pointed to CAPSA’s Capital Accumulation Plan Guideline and Risk Management Guideline for plan administrators, which emphasise member communication, education and tools, and it encouraged plan members to keep their information current and to review plan and investment decisions regularly and at major life events. Plan administrators and sponsors were urged to provide regular, clear communications, decision-support tools and periodic investment reviews to help members make informed choices and join plans promptly.
Canadian Association of Pension Supervisory Authorities 2025-02-20
Canadian Association of Pension Supervisory Authorities marks Pension Awareness Day and urges higher workplace pension plan participation
The Canadian Association of Pension Supervisory Authorities (CAPSA) urged eligible workers to join employer-sponsored registered pension plans early. CAPSA noted that workplace pension plans, overseen by its member regulators, aid in tax-deferred savings growth, yet 27% of eligible workers do not participate. The release emphasized the importance of member communication and education, urging plan administrators to provide clear communications and decision-support tools.