MONTREAL, July 10, 2014 /CNW Telbec/ - Standard Life in Canada announced
today that it has obtained all necessary approvals to offer Voluntary
Retirement Savings Plans (VRSP) to Québec workers.
"We have developed a simple VRSP solution that is easy to set up and
manage for Québec employers and advisors — it only takes about 15
minutes to join online," said Philippe Toupin, Vice President, Group
Solutions, at Standard Life. "We believe the plan's compulsory
membership for companies and freedom of choice for employees will make
this new retirement savings vehicle successful in helping to ensure a
retirement income for many more Québec workers."
Standard Life recognizes the leadership of the Government of Québec in
providing near universal pension coverage to workers. Standard Life
continues to call on other provincial and territorial finance ministers
to develop similar initiatives that include compulsory sponsorship and
automatic enrolment so that the retirement outcomes of many more
Canadian workers can be improved.
Note to editors
See details on Standard Life's VRSP.
Standard Life has long been concerned about financial security at
retirement and has an impressive track record in retirement savings
plan innovation. In addition to VRSPs, Standard Life offers a wide
range of retirement savings solutions, including Pension in a Box, which is also designed for small and medium-sized companies.
About Standard Life
Standard Life provides long-term savings, investment and insurance
solutions to more than 1.4 million Canadians, including group
retirement and insurance plan members. It has 2,000 employees, and the
main operating subsidiaries in Canada are The Standard Life Assurance
Company of Canada and Standard Life Mutual Funds Ltd.
The Canadian operation of Standard Life plc, its parent company, is the
largest outside the United Kingdom. Headquartered in Scotland, Standard
Life plc has around 6 million customers worldwide and operates in the
UK, Canada, Europe, Asia and the Middle East.
Standard Life plc had $456 billion in assets under management, including
$50 billion in Canada, as at March 31st, 2014.
SOURCE: Standard Life
For further information:
514-499-7999 or 1-877-499-9555, extension 8150