Pension Administrator: Registered vs. Licensed

Registration of an Administrator (Self- Administered Private Pension Plans)

Licensing of an Administrator

  • The employer participating in the pension plan

  • A board of trustee, composed of one or more representative of the employer or employers participating in the pension plan and one or more representatives of the members or former members of the pension plan

  • A board of trustee wholly consisting of members or former members of pension plan

  • An entity by virtue of this Act or any other law, is vested with responsibility for the administration of a pension plan or pension fund 

  • A financial institution licensed in the prescribed manner as an administrator under this act 

  • Any other person approved by the Supervisor



Registration/ Licensing Requirements

  • Completed Form 1(b) 
  • A certified copy of Certificate of Registration of Corporate Trustees
  • If Pension Administrator is a Board of Trustees: Completed Biographical Affidavit for each member of the Board of Trustees
  • If Pension Administrator is the Employer:
    • In the case of a Self-Proprietorship- A completed Biographical Affidavit of the beneficial owner;
    • In the case of a corporate entity-
      • A certificate of Registration and Long Extract from BCCAR and
      • A completed Biographical Affidavit of the person assigned within the company to the Pension Administrator
  • Completion of Form 1(a) 
  • A completed Biographical Affidavit of Beneficial Owners, Shareholders, Directors and Senior Management
  • A 5- year Business Plan
  • Certificate of Registration and Long Extract issued by BCCAR
  • Certified Copy of Memorandum of Association
  • Application Fee of $500.00
  • Licensing Fee of $500.00
  • Completion of Form 1(a) 
  • A completed Biographical Affidavit of Beneficial Owners, Shareholders, Directors and Senior Management
  • A 5- year Business Plan
  • Certificate of Registration and Long Extract issued by BCCAR
  • Certified Copy of Memorandum of Association
  • Letter of “No Objection for acting as a Pension Administrator for a FIPP” from the relevant financial institution’s primary Supervisor
  • Letter of Good Standing from the financial institution’s Primary Supervisor
  • Application Fee of $500.00
  • Licensing Fee of $500.00
  • Completion of Application for Registration Form (Form 2 of the Regulations)
  • Copy of document establishing the pension plan and pension fund (ref PPA Section 7(1))
  • Names, occupation, qualification and address of each person of the board of trustees or the employer or other body that administer the pension plan
  • The name and address of each person responsible for the holding of assets of the pension fund.
  • Statement of investment policy
  • Certified copy of the custodial agreement (if applicable)
  • Copy of Information booklet for members
  • The most recent evaluation report for defined benefit pension plan (ref: section 7(2))
  • Registration fee per plan $100

Amendment to Private Pension Plan

An administrator shall apply to the Supervisor within thirty days after the date on which the documents establishing the pension plan or pension fund, the custodial agreement or the statement of investment policy is amended for registration of such amendment.

An application for the registration of an amendment shall be made using Form 3 – Application for Registration of a Pension Plan Amendment.

The application should be accompanied with a $100 amendment fee, certified copied of the applicable document with the proposed amendment and any other document or information required by the Supervisor.