Standard Life receives a licence to provide a Voluntary Retirement Savings
Plan in Québec
MONTREAL, June 16, 2014 /CNW Telbec/ - The Standard Life has been issued a
licence by the Autorité des marches financiers (AMF) to administer a
Voluntary Retirement Savings Plan (VRSP) in Quebec starting July 1.
"The AMF's licence is an important step in the setup of our VRSP offering.
We've developed a clear and simple tool to help mainly small and medium
business employers offer a retirement income solution for their employees,"
said Philippe Toupin, Vice-President, Group Solutions. "There are still
important steps to go through, such as filing our registration document today
with the Régie des rentes du Québec and the Canada Revenue Agency, but we
are confident that we will receive all our approbations to launch our VRSP on
Quebec was the first province to pass a legislation to help ensure a suitable
retirement income for more Quebecers and to recognize that in order to be
successful, it had to be mandatory for employers to offer a retirement saving
plan to their employees. Standard Life applauds the government of Quebec's
leadership and continues to call on other provincial and territorial finance
ministers to develop similar initiatives to ensure a suitable retirement to a
majority of Canadians and Quebecers.
Note to editors
1. Details about
Standard Life's VRSP
2. 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 offers a large range
of retirement savings solution, such as Pension in a Box,
designed specifically for the small and medium-sized enterprises.
About Standard Life
Standard Life provides long-term savings, investment and insurance solutions
to more than 1.4 million Canadians, including group retirement and insurance
plan members. It has 2,000 employees, and the main operating subsidiaries in
Canada are The Standard Life Assurance Company of Canada and Standard Life
Mutual Funds Ltd.
The Canadian operation of Standard Life plc, its parent company, is the
largest outside the United Kingdom. Headquartered in Scotland, Standard Life
plc has around six million customers worldwide and operates in the UK, Canada,
Europe, Asia and the Middle East.
Standard Life plc had $456 billion in assets under administration, including
$50 billion in Canada, as at March 31, 2014.
SOURCE Standard Life
Anne-Julie Gratton 514499-7999 or 1877499-9555, extension8150
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CO: Standard Life
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-0- Jun/16/2014 13:18 GMT
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