Review of Alberta's Private Sector Pension Rules

Official title: Private sector pensions review engagement

Closed Regulations & Permits Economy & Jobs Finance & Consumer
Alberta gathered feedback on updating its private sector pension laws, which haven't changed significantly since 2014. The government wanted to hear about ways to modernize rules, reduce costs, and cut red tape for workplace pension plans. This engagement has now concluded.

Why This Matters

Have a workplace pension in Alberta? The rules governing it may be outdated. Stakeholders say current laws are driving up costs and making pensions less stable. If you're counting on a private sector pension for retirement, these changes could affect how your plan is managed.

What Could Change

Alberta may update the Employment Pension Plans Act and its regulations. Changes could reduce administrative burden on employers offering pensions and address funding volatility. The government is also looking at ways to expand pension coverage to more workers.

Key Issues

  • How can pension rules be modernized and made more innovative?
  • How can funding rules be improved to reduce costs and volatility?
  • What red tape can be cut from pension administration?

What Happened

The government received feedback through email and virtual meetings with pension plan stakeholder committees in fall 2022. This input will help inform potential updates to the Employment Pension Plans Act and Regulation.

Key Documents