MEDIA ADVISORY - ORPP is overkill for retirement-ready Ontarians: Public policy expert and economist Jack Mintz to address Canada's influential investment industry lobby on best-choice pension plan reform

Date:

Tuesday, November 24, 2015

Time:

12:15 p.m. ET

Location:

Fairmont Royal York Hotel


Canadian Room (Convention Level)


100 Front Street West, Toronto

TORONTO, Nov. 23, 2015 /CNW/ - With so many Canadians being bombarded by conflicting information on retirement income adequacy, public policy expert and economist JACK MINTZ takes compelling and instructive aim at the retirement income policies of the Canadian and Ontario governments in a luncheon keynote address to Canada's influential investment industry association, PMAC.  Mintz is concerned that Canada's most-at risk retirement-age population – the elderly poor and single seniors – would not be helped by the expansion of CPP and the creation of the Ontario Retirement Pension Plan (ORPP) and, in line with PMAC's official positon, retirement-ready Canadians don't need the overkill of another blanket pension plan. Mintz will identify the three core issues that will determine the best policy choice for Canadians  – poverty, lack of savings and insufficient market mechanisms to reduce the risk for those saving for retirement.

PMAC, with a national membership of more than 220 investment companies managing assets of over $1.4 trillion, is calling on the federal and provincial governments for more targeted pension reforms to address the savings gap.  Canada's fastest-growing investment industry lobby opposes expansion of CPP and the creation of ORRP. "The Canadian and Ontario Government should focus on promoting the multiple savings options already available to Canadians, including PRPPs," says PMAC President KATIE WALMSLEY.  "Why crack a walnut with a sledgehammer?" PMAC is also a vocal supporter of tax incentives that encourage saving, a new focus on other already-available pension and retirement savings options, intergovernmental coordination to streamline the savings process and employer education on current pension and retirement savings options.  "This address will be one of the most charged and impactful perspectives ever on the topic of retirement income policies," adds Walmsley. PMAC's full positioning statements on retirement pension plans are available at www.portfoliomanagement.org

Mintz is one of 11 speakers featured at PMAC's 2015 National Conference in Toronto with the theme "Strategic Leadership in Investor Focused Times".  Former National Post Editorial Editor ANDREW COYNE opens the conference at 8:35 a.m. ET as keynote on post-election winners and losers, what's next for Canada in terms of the Trans-Pacific Partnership (TPP), the future of a national securities regulator, election endorsements and other major policy issues.  For more information on PMAC's 2015 National Conference, go to http://www.pmacconference.com/. On twitter: @PMACNews.

SOURCE Portfolio Management Association of Canada

Image with caption: "Portfolio Management Association of Canada (CNW Group/Portfolio Management Association of Canada)". Image available at: http://photos.newswire.ca/images/download/20151123_C7810_PHOTO_EN_551268.jpg

For further information: Margo Rapport, Rapport Communications, email: margo@margorapport.com, phone: 416-895-5672

RELATED LINKS
www.portfoliomanagement.org

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Portfolio Management Association of Canada

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