Enhancing Canadians' savings options : Améliorer les options d'épargne des Canadiens : raffermir le troisième pilier au Canada

The CBA believes it is important to consider the financial security of families at all stages of their lifecycle, and to recognize that families within each stage are not homogeneous, and in doing so to consider the assets and liabilities that are important to them at those stages. [...] Notwithstanding the current state of retirement income and retirees’ standard of living, there remains the question of whether the system will continue to perform as well as it has in the past and whether future generations of Canadians will have sufficient savings for retirement. [...] First, the CBA believes that the basic principle that should guide any reform of the retirement income system is that individuals are best suited to make their own financial decisions, in the context of a well-regulated, well-managed, competitive financial marketplace that provides open and accessible choice in products and services to Canadians, and in the context of a public system that provides [...] Third, we believe this is a prime opportunity for public policy makers to recognize and build upon the confidence Canadians have in their financial institutions, and the strength and stability of the financial system in this country. [...] We say this in light of (a) the financial sector’s capacity and expertise to provide Canadians with the retirement savings products and advice they need, and (b) the existing and well-functioning infrastructure in the financial services marketplace to develop and provide services.