Pension Advocacy Group Pleased
with Alberta and BC Governments' Decision to
Review Provincial Pension Legislation
October 22, 2007
The Association of Canadian Pension Management (ACPM) is pleased
with the Alberta and British Columbia governments' decision to appoint
a Joint Expert Panel on Pension Standards, which will collaborate
to review the two provinces' pension legislation.
The Expert Panel will consult with stakeholder groups to examine
the legislation that governs Alberta and BC's pension plans in an
effort to create greater harmonization of pension standards between
the two provinces. Specific areas of focus include: encouraging
the establishment and maintenance of employee pension plans while
ensuring fairness for both employers and employees; balancing risks
and rewards; and removing barriers to the creation and maintenance
of pension plans in the two jurisdictions.
ACPM has been working tirelessly to ensure a level regulatory environment
that encourages employers to establish and maintain pension plans
that provide for a secure retirement. To that end, the Association
presented a Brief to the Ontario Expert Commission on Pensions which
is currently reviewing the pension legislation in that province.
The Association believes that with broad debate amongst all stakeholders,
a regulatory environment can be created that encourages, not discourages,
the creation and maintenance of occupational pension plans for the
benefit of Canadians.
"We are very happy with the announcement of this joint review.
This, along with the review already underway in Ontario, represents
a significant step forward for Canada's pension industry. It is
a clear indication that these governments recognize the importance
of occupational pension plans, and the importance of having clear
legislation that will allow pension plans to remain viable and sustainable.
The ACPM commends the governments on this initiative and we will
support the work of this Expert Panel in any way we can," says
Scott Perkin, ACPM President.
Mr. Perkin added that he is "very pleased with the appointment
of Chris Brown as Co-Chair of the Panel. Chris is a former Vice-President
and Director of the ACPM Board. Elaine Noel-Bentley, another Alberta
member of the Panel, was also a long-time member of the ACPM Board
and Alberta Council. Both individuals are respected in this industry
and will serve the Panel well."
About the ACPM
The Association of Canadian Pension Management (ACPM) is the informed
voice of Canadian pension plan sponsors, administrators and their
allied service providers.
Established in 1976, the ACPM advocates for an effective and sustainable
Canadian retirement income system through a non-profit organization
supported by a growing membership and a team of volunteer experts.
The ACPM currently has 570 individual members and 23 institutional
members across Canada, representing more than 300 pension plans
with assets of over $300 billion and over 3 million plan members.
The ACPM promotes its vision for the development of a world leading
retirement income system in Canada by championing the following
ˇ Clarity in legislation, regulations and retirement income
ˇ Balanced consideration of other stakeholders' interests
ˇ Excellence in governance and administration
A complete copy of the ACPM Brief to the Ontario Expert Commission
on Pensions is available at www.acpm-acarr.com
For more information, please contact Vanessa Wilson at the ACPM
416-964-1260 x 223.
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