The ICPP recasts the employer’s fundamental role in the pension process.  An employer is no longer be expected to be an administrator, investment manager, financial planner, trustee or fiduciary for the pension plan. After the Participating Employer completes the enrolment process, the employer can treat the ICPP like the CPP: they simply manage payroll.

The employer does have a very important role upon adopting the ICPP.  It must establish the benefit support levels for its employees. The employer then deducts and remits pension contributions on behalf of covered employees. The employer is, in essence, an agent of the ICPP Administrator. The employer is provided ongoing information to determine whether the ICPP can be expected to continue to meet its employees needs.

The ICPP pension design and governance structure essentially eliminates individual employer risks. The ICPP Administrator provides support to all Members to allow them to participate fully in the ICPP. Any Participating Employer may also ask the ICPP Administrator to provide additional retirement planning support to its covered employees and pay for those extra services directly, at its sole discretion. The Participating Employer can also pay for additional independent support for its employees from another third party.

Participating Employers will have representation on the ICPP Management Board, but no particular Participating Employer is obligated to participate. The Participating Employer may nominate a Management Board representative, or not.  The Participating Employer may vote for its Management Board representative, or not.

The ICPP Participating Employer Will:

Set contribution rates

Set minimum benefit targets

Manage payroll

The ICPP Management Board Will:

Govern the ICPP

Oversee plan administration

Oversee investment of contributions

Oversee member communication

Provide ongoing member support

Oversee regulatory requirements

Oversee legal requirements

Oversee third party services


Contact us to learn how your company can become a Participating Employer.