IFIC Makes Recommendations Aimed at Improving Retirement Savings

April 16, 2010

NEWS RELEASE
For Immediate Release

April 16, 2010

IFIC Makes Recommendations Aimed at Improving Retirement Savings
Programs in Canada

TORONTO – The Investment Funds Institute of Canada (IFIC) today published submissions it
made to the Nova Scotia Ministry of Labour and Workforce Development, and the Alberta
Ministry of Finance and Enterprise. These submissions were made further to requests by Nova
Scotia and Alberta for comments on their respective pension and other retirement savings
consultation papers, and offer recommendations for improving current retirement savings
programs.

“Across this vast country, we are all engaged in an important discussion related to retirement
savings system reform, the outcome of which affects each and every Canadian,” said Joanne De Laurentiis, IFIC President & CEO. “Reforming Canada’s retirement savings system is
achievable. There is no single solution for every concern; however, there are a good number of
measures that can be implemented quickly.”

In its submissions to Nova Scotia’s Discussion Paper on Pensions and Alberta’s Pension
Consultation Paper, IFIC presented the following four recommendations that could improve the
existing retirement savings programs:

1. Make it easier and more appealing for employers (particularly small- and medium-sized
businesses) to establish retirement plans affordably.

2. Encourage increased participation in employer or individual retirement savings plans
through the introduction of automatic enrollment and contribution escalation features,
and financial education.

3. Ensure equivalent retirement-related tax benefits for all Canadians, whether they are in
the private or public sector, both before retirement and while in retirement.

4. Understand the value and significant advantages of Canadians’ access to financial advice.
In its submissions, IFIC elaborates on each of the four recommendations referenced above. The
submissions are available on the Policy section of the IFIC website at www.ific.ca.

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
The Investment Funds Institute of Canada
Phone: 416-309-2317
Email: lgillet@ific.ca
Website: www.ific.ca

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The Investment Funds Institute of Canada (IFIC)

Topics:

• Financial Services
• Funds Management
• Investment Funds
• Investment in Canada
• Investments
• Mutual Funds
• Mutual Funds Industry
• Registered Education Savings Plans (RESPs)
• Registered Retirement Savings Plans (RRSPs)