Translation of "Régime individuel d'épargne-retraite " (French → English) :

Commission launches a new pan-European personal pensions label to help consumers save for retirement // Brussels, 29 June 2017

(13) For the purposes of subsection 146(12), an arrangement under which a right or obligation under a retirement savings plan is released or extinguished either wholly or in part and either in exchange or substitution for any right or obligation, or otherwise (other than an arrangement the sole object and legal effect of which is to revise or amend the plan) or under which payment of any amount by way of loan or otherwise is made on the security of a right under a retirement savings plan, shall be deemed to be a new plan substituted for that retirement savings plan.

(12) An arrangement that is a qualifying arrangement at the time it is entered into is deemed not to be a retirement savings plan, an education savings plan, a retirement income fund or a disability savings plan.

In light of the conflicting claims being made about the program, we are calling on the government to hold full public hearings on this issue to examine the effective tax rates under the seniors' benefit at all income levels for both single Canadians and married couples, and to ensure that RRSPs and other tax-assisted private retirement savings plans are not undermined, resulting in a major discouragement to Canadians providing for retirement income past the age of 65.

I am also talking about retirement savings plans, like the registered pension plan and the registered retirement savings plan, both of which are very efficient vehicles in helping retirees.

While participation in retirement savings vehicles like pension plans and Registered Retirement Savings Plans, or RRSPs, is reasonably high for middle- and higher-income earners, some Canadians may not be taking full advantage of these personal retirement savings opportunities.