CLHIA Response to "Pooled Registered Pension Plans (Manitoba) Act"Release Date: 11/25/2016 Staff Reference: Ronald Sanderson
November 25, 2016
The Honourable Cameron Friesen
Minister of Finance
103 Legislative Building
Winnipeg, MB R3C 0V8
I am writing on behalf of Canada’s life and health insurers in response to your November 4th public consultation on possible changes to the Canada Pension Plan, and to address the recent introduction of the Pooled Registered Pension Plans (Manitoba) Act.
The Canadian Life and Health Insurance Association (CLHIA), established in 1894, is a voluntary trade association that represents the collective interests of its member life and health insurance companies. The Association's membership accounts for 99 per cent of the life and health insurance in force in Canada. The industry provides services to over sixty percent of Canada's registered pension plans, with a focus on defined contribution pensions for employees of small- to medium-sized businesses. When group Registered Retirement Savings Plans and other workplace savings mechanisms are considered, life insurance companies serve over eighty percent of Canada's workplace retirement plans market...