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Finance Montréal launches its Pole on Retirement Applied Research

Montréal, Québec, June 3, 2015 – As part of its efforts to make Québec a global centre of expertise in retirement, Finance Montréal has created the Pole on Retirement Applied Research (PRAR). Coordinated by Finance Montréal and overseen by Denis Latulippe, Professor and Director of Université Laval’s school of actuarial science, this new business unit’s mission is to facilitate collaboration in the industry, with a view to focusing applied research on areas that have a significant impact on financial institutions and communities. The themes for the first research phase are the following:

  • Behavioural changes in people transitioning from work to retirement
  • The combined effect of aging and early retirement on the economy
  • Past, present and desirable human resource management strategies among employers dealing with new retirement-related employee behaviours

Five research mandates have been approved to kick off PRAR’s efforts:

  • The economic consequences of aging in Québec, led by Jean-Yves Duclos, Professor in Université Laval’s Department of Economics
  • Future trends in work and retirement after 50, led by Yves Carrière, Professor in Université de Montréal’s Department of Demography
  • Retirement financial preparedness and risk management, led by Pierre-Carl Michaud, Economics Professor at Université du Québec à Montréal’s School of Management (ESG UQAM)
  • Monitoring and evaluating the Voluntary Retirement Savings Plan (VRSP), led by Michel Montour, Director of Pension Plans, Régie des rentes du Québec
  • Human resource management practices for experienced workers, under the supervision of Sylvie St-Onge, Professor in HEC Montréal’s Department of Management

“The launch of PRAR is a major step forward in Finance Montréal’s development,” said Mario Albert, Finance Montréal’s Chief Executive Officer. “Everyone’s involvement, in particular within PRAR’s coordination committee, exemplifies the spirit of Finance Montréal, where businesses come together to carry out projects that will benefit Québec’s financial industry. PRAR’s findings will be presented in a concrete usable way for local and foreign financial institutions and governments. This is a tangible tool that will contribute to extending Québec’s international influence in finance,” concluded Mario Albert.

Finance Montréal, the Industrial Alliance Research Chair on the Economics of Demographic Change, the Régie des rentes du Québec and the Canadian government’s Mitacs program provide support for PRAR’s ongoing activities. A coordination committee will oversee PRAR’s activities and direct the research mandates that will be entrusted. This committee is made up of the following members:

  • Bernard Morency (President of the coordination committee), Executive Vice-President, Depositors, Strategy and Chief Operations Officer, Caisse de dépôt et placement du Québec
  • Mario Albert, Chief Executive Officer, Finance Montréal
  • René Beaudry, Partner, Normandin Beaudry
  • David Charbonneau, Senior Vice-President, Group Retirement Savings, Desjardins Financial Security
  • Robert Dumas, President, Sun Life Financial, Quebec
  • Clément Gignac, Senior Vice-President and Chief Economist, Industrial Alliance
  • Michel Montour, Director of Pension Plans, Régie des rentes du Québec
  • Pierre Piché, Senior Advisor, Power Corporation of Canada
  • Roger Renaud, President, Canada, Manulife Asset Management
  • Michel St-Germain, Partner and Actuary, Mercer
  • Denis Latulippe, Professor and Director of Université Laval’s School of Actuarial Science and PRAR coordinator
  • Christian Rousseau, Senior Consulting Director, Investment Policy, Depositors and Strategic Initiatives, Caisse de dépôt et placement du Québec
  • Annie Tremblay, Project Director, Finance Montréal

Results of the first researches are expected toward the end of 2015. Finance Montréal intends to use these findings to highlight Québec’s expertise in the area of retirement and secure its place on the international stage as an authority in the field. In that spirit, the Montreal Pension Conference will be held June 8, 2015, during the International Economic Forum of the Americas. Close to 15 experts will debate on social-economic issues affecting pensions.

About Finance Montréal

Finance Montréal, Québec’s financial cluster, was created in 2010 by institutions in the financial services industry at the invitation of the Québec Government. Finance Montréal’s mission is to enhance Montréal’s reputation as a strong, innovative and world-class financial hub. The organization helps strengthen Québec’s financial sector by generating growth in high-value-added financial activities strategic to its development. Finance Montréal brings together 23 Governor Members, 14 Associate Members and close to 300 volunteer professionals. It fosters cooperation among a vast range of financial sector companies to watch over the industry’s common interests while raising awareness of the financial specializations found in Montréal. To learn more about Finance Montréal, visit

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Matthieu Cardinal

Director of Communications

Finance Montréal

514 287-1540 ext. 227

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