New changes proposed to RSP limits (ON, AB, NB, NS)
Hi, should we consider new rules when talking about RSP:
From: "Facility Association Bulletin F2020-050":
1. Ontario: Amending the 85% sharing (premium and claims) to 100% cession;
2. Alberta (Non-Grid): Amending the Non-Grid RSP member transfer limit from 4% to 5%;
3. New Brunswick: Amended the RSP member transfer limit from 8% to 5% as well as
expanded the eligibility criteria to allow all private passenger use vehicles from the current
restrictions for inexperienced operators; and
4. Nova Scotia: Amend the RSP member transfer limit from ‘none’ to 5% as well as expand the
eligibility criteria to allow all private passenger use vehicles from the current restriction for
inexperienced operators.
As much as i know ON and AB change has been effective January 1 2022. Is it true for rest of changes?
And how would you recommend to go about it on the exam?
Comments
Hi,
You are talking about the changes mentioned in this paper: https://www.casact.org/sites/default/files/2022-05/6C_DutilBulletin_062020.pdf
This paper is currently on the syllabus so I would go with you having to know it.
In terms of the effective date for NB and NS, I am not sure as it is not stated in the paper. That being said, you will never be wrong going with the most updated facts regardless of whether they are currently in-force or not
Hi !
I am not sure where you have seen:
1- Alberta (Non-Grid), Amending the Non-Grid RSP member transfer limit from 4% to 5%:
It is not written in the Dutil text nor in the paper mentioned in the previous comment... Where have you seen this ?
2- New Brunswick, Amended the RSP member transfer limit from 8% to 5%:
Same thing, where have you seen this. In the paper mentioned in the rpevious comment, I can see the change regarding the eligibility criteria, but there is nothing about the 8% becoming 5%...
Thank you for your help.
Its in the first page of the aforementioned link
thank you !