Bill Morneau, Executive Chair of Morneau Shepell, and Fred Vettese, Chief Actuary, discuss current pension policy in Canada at National Summit
Two highly regarded Canadian pension experts deliver remarks at Public Policy Forum's Second National Summit on Pension Reform
TORONTO, Oct. 9, 2014 /CNW/ - Appearing at a National Summit in Toronto, Bill Morneau, Executive Chair of Morneau Shepell, the largest company in Canada offering human resources consulting and outsourcing services, and Fred Vettese, Chief Actuary of Morneau Shepell, delivered remarks and analysis on the current pension landscape in Canada.
The Summit, organized by Canada's Public Policy Forum, is convening a pan-Canadian, multi-sector discussion that focuses attention on two key challenges: pension coverage and sustainability. The gathering is taking place in Toronto before an audience comprised of distinguished speakers from the business community, federal and provincial governments, labour groups, and academia.
Bill Morneau addressed attendees on the need for government, unions, business and citizens to focus on cooperating to achieve a sustainable system to fund pensions going forward, along with commenting on the urgency of action now as opposed to down the road.
"Today we are facing critical decisions for the future of our retirement system. The actions we take together now as a country with respect to pension policy will affect generations of Canadians to come," said Bill Morneau. "It's vital for us to work together to forge a sustainable system that will ensure a prosperous, secure retirement for future generations. This involves protecting at-risk and vulnerable groups who will not have enough savings for a comfortable retirement, including middle-income workers without adequate coverage."
In a panel discussion surrounding those at-risk groups, Fred Vettese acknowledged Mr. Morneau's concern in closing the retirement income gap. "It is no secret that some Canadians are not on a trajectory to retire comfortably. We want to help them save more, but without requiring those who are already on the right track to over-save."
In his closing remarks, Mr. Morneau spoke of the need for Canada to enhance the current system to protect those at risk groups in society and pointed to Ontario's Retirement Pension Plan as a move in the right direction.
Bill Morneau and Fred Vettese recently co-authored The Real Retirement: Why You Could Be Better Off Than You Think, and How to Make That Happen.
About Morneau Shepell Inc.
Morneau Shepell is the largest company in Canada offering human resources consulting and outsourcing services. The Company is the leading provider of employee and family assistance programs, as well as the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada. Through health and productivity, administrative, and retirement solutions, Morneau Shepell helps clients reduce costs, increase employee productivity and improve their competitive position. Established in 1966, Morneau Shepell serves more than 20,000 clients, ranging from small businesses to some of the largest corporations and associations in North America. With approximately 3,600 employees in offices across North America, Morneau Shepell provides services to organizations across Canada, in the United States, and around the globe. Morneau Shepell is a publicly-traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
SOURCE Morneau Shepell Inc.
Manager, Corporate Communications