CLHIA-ACCAP

7 plan", deficiencies in Ontario's ORPP cost-benefit analysis, and proposing a process to consider the effect of private-sector pension innovations (e.g. auto-annuitization) on the comparability criteria. • This February, the federal Finance Minister announced that Ottawa, Ontario and other jurisdictions would develop options for CPP enhancements to be considered at a June meeting of all federal/ provincial/territorial Finance Review of the Year's Results The CLHIA met its stated goals or made significant progress in all ten areas it had set out as key objectives in its Strategic Plan for the 2015-2016 fiscal year. In addition, we maintained forward momentum in many of our ongoing initiatives, areas that were more general and longer term in nature. The following is an account of many of these achievements and developments. KEY OBJECTIVES i. Pensions and Retirement Savings Policy - PRPPs and ORPP • Over the fall and winter, CLHIA made a number of representations to the Ontario government on various ORPP matters regarding: the definition of a "comparable Ministers. At the same time, Ontario announced a one-year delay in the implementation of the ORPP to January 2018. • At the request of the Board, CLHIA's Pension Reform Steering Committee developed a national targeted approach designed to address specific problems and be fair and efficient. The Committee has reached out to a broad range of potential coalition partners and received considerable interest and support. The CLHIA plans to send letters to all Finance Ministers. ii. Distribution Issues Review • In January, the CLHIA Board approved a policy paper entitled Insurance Distribution in Canada: Promoting a Customer-focused System. The report was developed at the request of the Board by a senior-level Task Force, assigned to review distribution practices from 70% Private pension plans managed by Canadian insurers Board of Directors President's Message Review of the Year's Results Members CLHIA Code of Member Service CLHIA Officers Chair's Message

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