OTTAWA, ON -- Dick Harris, Member of Parliament for Cariboo-Prince George announced today that the Government of Canada is introducing changes to Canada’s pension landscape that will make saving for retirement easier for millions of Canadians.

Legislation was introduced last week in Parliament, implementing the federal portion of the Pooled Registered Pension Plan (PRPP) framework.

Canadians work hard to realize their retirement dreams, and PRPPs will offer them a new, low-cost and accessible pension option to help meet their goals.

“From Vanderhoof to Hagensborg small businesses will be able to provide staff with an option for retirement savings,” said Dick Harris. “There will be savings on administrative costs so companies can incentivize staff towards better retirement savings.”

PRPPs are the outcome of several years of cooperation, research and consultations by Canada’s finance ministers on the best ways to ensure the long-term strength of Canada’s retirement income system.

“If you invest in a PRPP you will benefit from lower investment management costs associated with the large scale of these funds. Essentially, you will be buying in bulk. Which will leave you with more cash in your pocket when you retire,” explained Harris.