TORONTO, Nov. 17, 2011 /CNW/ - The Association of Canadian Pension
Management (ACPM) applauds the Harper government for moving ahead and
tabling Pooled Registered Pension Plan (PRPP) legislation as a means of
expanding the range of retirement savings options currently available
"ACPM has consistently advocated for innovative options for expanding
workplace pension coverage for Canadians and has developed and shared
our ideas with governments. PRPPs will be an efficient and
appropriate way to help bridge the gaps in the current retirement
income system" said ACPM President Christopher Brown.
"Canadians need innovative, accessible, broad-based savings options to
help them reach their retirement savings goals. PRPPs, harmonized
across all provinces, have the potential to achieve the economies of
scale necessary to provide significant advantages to Canadians", added
Mr. Brown. "We urge all Provinces to move as quickly as possible to
bring PRPPs to fruition".
PRPP's are one important part of a broader solution needed to improve
Canada's retirement income system.
ACPM continues to advocate its Five Point Plan, a comprehensive plan
that calls on governments to:
Remove Barriers to Group Coverage
Ensure Defined Benefit Plans Continue as Viable Options for Coverage
Enable More Innovation
Promote Simplicity in Administration
Increase Incentives to Save
"The announcement of PRPP legislation today is a solid start towards
implementing the recommendations in our Five Point Plan that will
ensure that every Canadian, including the self-employed and those
employed in small businesses, have the saving options that work best
for them and their families", stated Brown.
"We look forward to working with governments to ensure that PRPPs will
be a successful part of the solution for improving Canada's retirement
income system" said Mr. Brown, adding that "There is still work to be
done to further improve retirement savings options for Canadians and we
welcome the opportunity to continue the work we have been doing with
governments towards that goal".
To view the complete ACPM Five-Point Plan please visit www.acpm-acarr.com
The Association of Canadian Pension Management is the informed voice of
Canada's retirement income providers. Established more than three
decades ago, our members represent over 400 pension plans consisting of
more than 3 million plan members, with assets under management in
excess of $330 billion.
The Association promotes its vision for the development of a
world-leading retirement income system in Canada by championing the
Clarity in legislation, regulations and retirement income arrangements;
Balanced consideration of other stakeholders' interests;
Excellence in governance and administration.
SOURCE Association of Canadian Pension Management
For further information:
Vanessa Wilson, Communications Director, ACPM
416-964-1260, Ext. 223 or 416-523-9518 (cell) or firstname.lastname@example.org