OTTAWA, Nov. 17, 2011 /CNW/ - Today, the federal government fulfilled
its commitment to move Pooled Registered Pension Plans (PRPPs) forward.
The legislation introduced today, has the potential to benefit the
estimated 60 per cent of Canadians who have either no, or insufficient,
retirement savings. The Canadian Chamber of Commerce believes PRPPs -
with simple and straightforward rules and processes - will give many
businesses the flexibility and tools they need to help their employees
save for retirement. PRPPs will also provide individuals and the
self-employed with additional retirement savings options.
The following comments received from some of our SME members indicate
how PRPPs could benefit smaller employers:
"As an SME that does not presently have any retirement pension plan
options for its employees, but is definitely interested in an
opportunity to do so (in a manner) that would be effective and
efficient, the PRPP is a great option."
"…this (PRPPs) would be a great option to attract new talent to our
business. A pension plan draws a lot of the skilled people that we need
to the larger corporations and this would be a nice edge to add to a
PRPPs represent a significant development for the millions of Canadians
who have either no, or insufficient, retirement savings and we look
forward to reviewing the government's legislation and work with the
provinces and territories following suit.
The Canadian Chamber of Commerce is the vital connection between
business and the federal government. It helps shape public policy and
decision-making to the benefit of businesses, communities and families
across Canada with a network of over 420 chambers of commerce and
boards of trade, representing 192,000 businesses of all sizes in all
sectors of the economy and in all regions. News and information are
available at www.chamber.ca or follow us on Twitter @CdnChamberofCom.
SOURCE Canadian Chamber of Commerce, The
For further information:
Émilie S. Potvin
Director, Public Affairs & Media Relations
Office: 613.238.4000 (231)