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IFIC Comments on Manitoba Consultation Paper on Retirement Income System
April 30, 2010
NEWS RELEASEFor Immediate Release
April 30, 2010
IFIC Comments on Manitoba Consultation Paper on Retirement Income System
TORONTO – The Investment Funds Institute of Canada (IFIC) today published its submission to Manitoba’s Minister of Finance related to a request by Manitoba for comments on its consultation paper, Mechanisms for Expanding Pension Coverage and Retirement Income Adequacy in Canada (the Manitoba Paper).
“There is no one size fits all approach that can be taken,” said Joanne De Laurentiis, IFIC President & CEO. “We should provide Canadians with retirement savings options, as well as support in selecting the most appropriate option, which can only come from professional financial advice.”
In its submission to the Manitoba Paper, IFIC notes the strength of Canada’s balanced retirement income system and suggests targeted solutions where areas for improvement have been found, and stresses the important role financial advice plays in:
• Engaging clients, obtaining their commitment to save and to keep saving from year to year;
• Helping Canadians to choose wisely among the growing number of tax-assisted savings plans, understand the variation between plans under federal and provincial pension and tax legislation, and cope with the major financial events that they will experience at some point in their lives; and
• Developing appropriate portfolios using an equity mix suitable to each client based on their personal time horizon and risk tolerance.
The IFIC submission to the Manitoba Paper is available on the Policy section of the IFIC website at www.ific.ca.
https://www.ific.ca/Content/Document.aspx?id=5358
IFIC is the national association of the investment funds industry. Membership consists of mutual fund companies, retail distributors and industry affiliates.
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For more information contact:
Laurie
Gillett
IFIC
Phone: 416-309-2317
Email: lgillett@ific.ca
Website: www.ific.ca
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The Investment Funds Institute of Canada (IFIC)
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