TORONTO, Dec. 21 /CNW/ - The Association of Canadian Pension Management (ACPM) is pleased by
Minister Flaherty's announcement that the federal and provincial
governments reached agreement on a framework for Pooled Registered
Pension Plans (PRPPs). ACPM views the introduction of PRPPs as a very
positive step in expanding pension coverage options for Canadians.
"PRPPs expand the options for coverage by targeting those Canadians who
don't currently have access to workplace pension plans", said ACPM
President Christopher Brown.
Mr. Brown stressed that "the PRPP rules need to be developed on a
harmonized, pan-Canadian basis to ensure access to PRPPs and ease of
administration across all provinces and territories".
"We urge governments to act quickly to make the legislative changes
necessary for PRPPs to become a reality for Canadians and we look
forward to working with governments to finalize a viable framework for
these plans", added Brown.
Earlier this year, ACPM released its Five-Point Plan, Improving
Retirement Income Coverage in Canada". It is a comprehensive plan
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 Federal-Provincial Ministerial framework 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 Mr. Brown.
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: For further information:
Vanessa Wilson, Communications Director, ACPM
416-964-1260, Ext. 223 or 416-817-1894 (cell) or email@example.com