Media Advisory - Canadian Institute of Actuaries - These are tough times, but they will pass. Let's get on with long-term national pension reform

    OTTAWA, April 20 /CNW Telbec/ - Claude Lamoureux, Special Advisor to the
Canadian Institute of Actuaries, will be appearing before the House of Commons
Standing Committee on Finance to present the actuarial profession's views on
the long-standing issues that continue to challenge the retirement savings
system in Canada.
    Canadians are not saving enough for their independent retirement. Defined
Benefit pension plans, a key retirement income vehicle, are in crisis. Many
pension plans were underfunded before the current economic crisis hit and many
more are underfunded now. Canadians with RRSPs and those with Defined
Contribution workplace pension plans have seen their value melt away over the
past year. While governments have been responsive to calls for short-term
relief for pension plans, the time for action on long-term, national pension
reform is now, and Canada's actuaries have some proposals that will help.

    Date:       Tuesday, April 21, 2009

    Time:       9:00 a.m.-11:00 a.m.

    Location:   Room 237-C, Centre Block, Parliament Hill

    Who:        Claude Lamoureux, Special Advisor on Pensions, Canadian
                Institute of Actuaries

    Mr. Lamoureux will be available for interviews immediately following the
    committee meeting.

    The Canadian Institute of Actuaries is the national organization of the
actuarial profession. The Institute is dedicated to serving the public through
the provision, by the profession, of actuarial services and advice of the
highest quality. In fact, the Institute holds the duty of the profession to
the public above the needs of the profession and its members.

For further information:

For further information: Josée Racette, Project Manager, Communications,
(613) 236-8196 ext. 107

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Canadian Institute of Actuaries

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