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CLHIA's comments on the Ministry of Finance's consultation "Securing Our Future: Strengthening Retirement Income in Ontario through Pooled Registered Pension Plans"


Release Date: 01/20/2014
Staff Reference: Leslie Byrnes

January 20, 2014

Framework for Pooled Registered Pension Plans
Strategic Pension Reform Secretariat
Ministry of Finance
7 Queen's Park Crescent
5th Floor, Frost Building South
Toronto, ON M7A 1Y7

The Canadian Life and Health Insurance Association (CLHIA) appreciates the opportunity to comment on the Ministry of Finance's consultation "Securing Our Future: Strengthening Retirement Income in Ontario through Pooled Registered Pension Plans".

Established in 1894, CLHIA is a voluntary trade association that represents the collective interests of its member life and health insurers. Our members account for 99 per cent of the life and health insurance in force in Canada, and contribute to the financial well-being of Canadians by providing a wide range of financial security products such as life insurance, annuities and supplementary health insurance to about 26 million Canadians. Also, about two-thirds of Canada's pension plans, primarily Defined Contribution plans for small and medium-size businesses, are administered by life and health insurers.

We strongly support the implementation of Pooled Registered Pension Plans in Ontario as a meaningful contribution to closing the pension gap in Ontario.