knowledge topics
Jurisdiction of Registered Pension Plans
KNOWLEDGE EXPECTED OF: Both CFP® Professionals and QAFPTM Professionals
- Identify the Pension Acts that exist within Canada.
- Explain the role of the Canadian Association of Pension Supervisory Authorities (CAPSA).
- Identify factors used to determine the jurisdiction of a registered pension plan, such as:
- Industry of the employer
- Residence of employee
- Jurisdiction where work is completed
- Jurisdiction where the pension plan head office is located
- Identify the elements of pension legislation that may differ across jurisdictions, such as:
- Eligibility for pension benefits
- Minimum employer contributions
- Definitions of normal, early and postponed retirement
- Vesting provisions
- Availability and portability of pension benefits upon termination of plan membership
- Unlocking provisions
- Death benefits
- Survivor benefits
- Requirements for actuarial valuations
- Identify the jurisdiction of a registered pension plan.
Glossary of Verbs (mouse over to see definition)
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Define
To state exactly the meaning of
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Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
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Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
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Compare
To note the similarities and differences between two or more things
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Estimate
To determine an approximate value for
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Calculate
To find the value using mathematics
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Convert
To change from one form or purpose to another
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Evaluate
To reach a conclusion or make a judgement through careful study
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Interpret
To give the meaning of / to construe or understand / to translate orally
