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Pooled Registered Pension Plans

A pooled registered pension plan (PRPP) is a type of defined contribution pension plan designed to provide retirement income for employees of small- to mid-size companies and self-employed individuals who do not have access to a workplace pension. 

The benefits of the plan include:

  • flexible contribution options
  • plans can follow employees as they move around and/or in and out of the workforce 
  • members can pool their finances with others in similar circumstances, allowing for efficiencies and lower plan administration costs. 

The Pooled Registered Pension Plans (PRPP) Act was proclaimed on January 1, 2023, enabling New Brunswick employers and self-employed workers to use pooled registered pension plans as a retirement savings vehicle.  

On May 1, 2023, New Brunswick joined other provincial governments offering PRPPs by signing the Multilateral Agreement respecting Pooled Registered Pension plans and Voluntary Retirement Savings Plans, giving the responsibility of licensing, registration and supervision of PRPPs to the federal Office of the Superintendent of Financial Institutions (OSFI). 

New Brunswick’s PRPP Act and the Regulation set out the minimum standards that all PRPPs and PRPP administrators in New Brunswick must meet. The Act and the Regulation largely incorporate the federal PRPP legislation. 

Inquiries to become a licensed PRPP administrator for New Brunswick participants should be made to OFSI at 1-800-385-8647 or by email at

FCNB will continue to provide oversight of the legislation and deal with particular regulatory matters, such as the locking-in and withdrawal of funds from a PRPP.