Finance committee  Well, it's fully integrated into the pension limits that exist under the tax rules.

Finance committee  I don't have the numbers at hand, but it's 18% of your income, up to a maximum.

Finance committee  The design is intended to be portable right across the country.

Finance committee  Right now the regime that is before you applies to federal areas of employment, telecoms and banking, interprovincial transportation, etc. But in order to apply right across the country, yes, you're correct that the provinces need to bring in their own provincial legislation.

Finance committee  Correct.

Finance committee  The design of the PRPP is intended to encourage portability, so that if you do change employers you can maintain your PRPP. You can take it with you.

Finance committee  That's correct.

Finance committee  That's correct.

Finance committee  It's mandatory.

Finance committee  We've been working collaboratively with the provinces and territories all the way through this. The only province that has publicly made a commitment is the Province of Quebec. As the minister indicated, it made a commitment in its budget of last year, and I understand Quebec is

Finance committee  That is their objective.

Finance committee  The key difference, as the minister indicated, is that PRPPs will be supervised by the pension supervisory authority. In order to become an administrator, essentially you'll have to go through a licensing regime and qualify to become an administrator, and there will be ongoing ov

Finance committee  The design is such that a PRPP administrator can offer essentially the same product choices of PRPP accounts to a number of different employers. All of these different employers contribute into one essentially pooled account, and that offers efficiencies because of scale in the d

Finance committee  PRPP administrators are going to be required to offer different kinds of accounts with different kinds of risk profiles, including what we're referring to as a default account. An employee who joins a PRPP through their employer or as a self-employed individual will be given some

Finance committee  You're correct that there is the choice built into the framework for the PRPPs. There is the choice at the front end, where the employer chooses to join, where the employees have up to 60 days to opt out altogether, and even if employees do not opt out at the front end, if their