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Letter Summary:
As a general comment, the CAC supports initiatives addressing Canadians’ need for greater retirement savings and retirement reform, and commends the province for seeking input on the proposed framework at this time.
Overview of the Council’s Comments:
The most important feature of PRPPs is that they offer “low-cost” access to capital accumulation plans. We believe it is important that the promised “low cost” objective be met, even if it means deviating from the federal model. We also believe that more flexibility is desirable in the PRPP framework than what is currently supported under the federal model.