TORONTO, ON, June 21, 2016 – PMAC applauds the agreement in principle on CPP reached by Canada’s Finance Ministers. “We are pleased that the agreement calls for modest increases to CPP with a long and gradual phase-in period which recognizes the economic realities of many regional economies and businesses in Canada,” commented Katie Walmsley, PMAC President. “Although we had hoped for a more targeted solution focused on those who are at risk of under-saving, we are pleased the agreement addresses many of the gaps in Canadians’ retirement savings.” PMAC looks forward to having the opportunity to review the specific details of the CPP as they become available.

PMAC is part of a coalition of 15 organizations calling for a coordinated national targeted approach to retirement savings.

About PMAC
Portfolio Management Association of Canada (PMAC) represents an influential membership of more than 200 investment management firms that manage more than $1.4 trillion in assets for more than one million institutional and high-net-worth clients. Members manage portfolios for private individuals, foundations, universities and pension plans. As one of the largest investment industry associations in Canada, PMAC operates coast-to-coast in English and French language markets. PMAC represents investment management firms registered to do business in Canada as portfolio managers. The Association’s mission is to advocate the highest standards of unbiased portfolio management in the interest of investors served by members. For further information on PMAC, visit portfoliomanagement.org.

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For further information contact:
Margo Rapport
margorapport@rogers.com
416.895.5672