Today, I announced that five companies - Sun Life, Great West Life, Manulife, Standard Life and Industrial-Alliance - have been approved as plan administrators and can now make federal Pooled Registered Pension Plans available to Canadians. On vient d’afficher ce communiqué sur le site de Finances Canada. fin.gc.ca/n14/14-133-fra.asp Here is what the five companies had to say - “We commend the federal government for implementing a solution to help employers bridge existing gaps in the retirement system while maintaining existing employer-sponsored retirement plans, and are pleased to introduce our own PRPP to help more Canadians save.” - Jeff Aarssen, Senior Vice-President of Group Retirement Services for Great West Life, London Life and Canada Life “The PRPP is a very beneficial solution for eligible Canadians who did not have access to a group pension plan. We want to offer them tools to help them prepare better for retirement. It made perfect sense to enhance our offer by adding this new plan.” - Renée Laflamme, Vice-President, Group Savings and Retirement, Industrial Alliance Insurance and Financial Services Inc “Canadians without access to a workplace savings plan now have an easy, low-cost way to save for the future. With simplicity and affordability in mind, Manulife has created a cutting-edge federal PRPP with an innovative eApplication that can set up a contract in minutes. We also manage most of the ongoing administrative work, taking the burden off of advisors and employers.” - Marc Avaria, Vice President, Group Small Business, Manulife “Today marks an important step towards helping more Canadians save for a secure financial future, and Standard Life is proud to be part of it. Now that the federal PRPP and Quebec’s voluntary retirement savings plan are in place, we hope other Finance Ministers will soon adopt the PRPP framework that was agreed to a few years ago.” - Charles Guay, President and CEO, Standard Life Canada “We are excited to be a part of this important milestone in Canadian pension history. We are committed to providing Canadians with lifetime financial security, and this legislation is pivotal in providing access to a low-cost pension for the three to five million Canadians who do not currently have a workplace retirement savings plan.” - Tom Reid, Senior Vice-President, Group Retirement Services, Sun Life Financial
Posted on: Wed, 08 Oct 2014 02:00:01 +0000
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