The Association of Canadian Pension Management (ACPM) has congratulated the federal government on its announcement that it intends to make target benefit plans (TBPs) available to federally regulated organizations.
“We support the leadership of the federal government in moving forward with the target benefit plan initiative and appreciate their acknowledgement of ACPM’s contribution as the leading representative for the retirement income industry,” says Andrew Harrison, chair of the ACPM board of directors.
The federal government announced the initiative, in conjunction with a 60-day public consultation period, last Thursday.
While the ACPM strongly supports this development and believes that TBPs are part of a Canadian retirement income solution, it also emphasized that additional action is needed to improve the coverage and adequacy of the Canadian retirement income system.
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