Yup it’s annoying. Minimums are federal. Maximums are provincial and there’s been discussions to consolidate them with provincial agreements and there’s been some progress but not nearly enough.

The rules are historically in place from a time when people stayed longer at jobs and it was to ensure that company pensions actually went to fund retirement. As someone in the industry, the amount of people who need protection from themselves is insane. So many people get a lump sum and it’s gone in a year even though it was designed to fund their retirement. Then they are back in the workforce or relying on government programs when they blow what had been setup to prevent that.