Voluntary Retirement Savings Plans: Standard Life welcomes the introduction of a Québec bill

Voluntary Retirement Savings Plans: Standard Life welcomes the introduction of 
a Québec bill 
MONTREAL, May 9, 2013 /CNW Telbec/ - Standard Life welcomes a bill 
establishing the Voluntary Retirement Savings Plans (VRSPs), as introduced by 
the Minister of Labour, Employment and Social Solidarity of Québec, Agnès 
Maltais. Standard Life considers the introduction of the bill as an enabling 
action from government to ensure a suitable retirement income for most 
Charles Guay, President and Chief Executive Officer of Standard Life in 
Canada, stated: "We believe this innovative solution might provide individuals 
and employers with a clear and simple method. The voluntary feature values the 
employee's freedom of choice and the group feature promotes scale economies 
for participants. Compulsory membership for businesses will also favour the 
success of this action. Governments, financial institutions, employers and 
workers will all benefit from working together for the long-term, financial 
well-being of Quebecers." 
Standard Life has long been concerned with financial security upon retirement 
and has a long track record in retirement savings plan innovation. In addition 
to the VRSP, Standard Life recently introduced another retirement savings 
solution designed specifically for the small and medium-sized enterprises that 
represent 99% of Québec businesses. The majority of these businesses do not 
offer any type of plan to their employees. 
Following the adoption of Bill C-25 by the federal government last December, 
Standard Life called on provincial and territorial finance ministers to 
support Pooled Registered Pension Plans (PRPPs). Standard Life advised the 
ministers that any legislation to be introduced should include such measures 
as mandatory sponsorship and automatic enrollment, and also be harmonized with 
the legislation of other provinces and territories. 
Note to editors
For more information about the Standard Life's expertise on issues related to 
PRPPs, please visit www.standardlife.ca/prpp 
About Standard Life
Standard Life plc is a leading long term savings and investment company 
headquartered in Edinburgh, Scotland. Standard Life serves more than six 
million customers worldwide and operates in United Kingdom, Europe, North 
America and Asia, and globally with Standard Life Investments Ltd. 
In Canada, Standard Life is based in Montréal and has been doing business for 
180 years. Standard Life in Canada operates under the corporate name of 
Standard Life Financial Inc., which wholly owns The Standard Life Assurance 
Company of Canada and Standard Life Mutual Funds Ltd. It is Standard Life 
plc's largest entity outside United Kingdom, with some 2,000 employees, 
providing long term savings, investment and insurance solutions to more than 
1.4 million Canadians, including group insurance and retirement plan members. 
As of March 31, 2013, Standard Life plc had CAD$360 billion in managed assets, 
including CAD$46billion under management in Canada through Standard Life 
Ann-Marie Gagné 514-499-7999, ext. 4600 ann-marie.gagne@standardlife.ca 
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ST: Quebec
-0- May/09/2013 17:39 GMT
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