MONTREAL, July 10, 2014 /CNW Telbec/ - Standard Life in Canada announced today
that it has obtained all necessary approvals to offer Voluntary Retirement
Savings Plans (VRSP) to Québec workers.
"We have developed a simple VRSP solution that is easy to set up and manage
for Québec employers and advisors — it only takes about 15 minutes to join
online," said Philippe Toupin, Vice President, Group Solutions, at Standard
Life. "We believe the plan's compulsory membership for companies and freedom
of choice for employees will make this new retirement savings vehicle
successful in helping to ensure a retirement income for many more Québec
Standard Life recognizes the leadership of the Government of Québec in
providing near universal pension coverage to workers. Standard Life continues
to call on other provincial and territorial finance ministers to develop
similar initiatives that include compulsory sponsorship and automatic
enrolment so that the retirement outcomes of many more Canadian workers can be
Note to editors
details on Standard Life's VRSP.
2. Standard Life has long been concerned about financial security at
retirement and has an impressive track record in retirement
savings plan innovation. In addition to VRSPs, Standard Life
offers a wide range of retirement savings solutions, including
Pension in a Box,
which is also designed for small and medium-sized companies.
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 6 million customers worldwide and operates in the UK, Canada,
Europe, Asia and the Middle East.
Standard Life plc had $456 billion in assets under management, including $50
billion in Canada, as at March 31(st), 2014.
SOURCE Standard Life
Anne-Julie Gratton 514-499-7999 or 1-877-499-9555, extension8150
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CO: Standard Life
NI: INS FIN NP
-0- Jul/10/2014 20:38 GMT
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