Finance committee  Okay. Effectively, an investor in a fund product pays two levels of expenses: management fees and operating expenses. Typically, though it's changing a bit these days, the operating expenses the fund manager will charge are costed back to the fund. You've heard the expression “

Finance committee  There's a concern that if it doesn't go forward, as people get the tax hit, they'll find it a less than desirable vehicle, and the problem is that people will either try to manage their own portfolios without having the expertise, which will likely result in less savings for reti

Finance committee  Yes, I think it is a question of fairness. It's a question of the investor being treated the same way, regardless of the vehicle, given what they're trying to achieve, which is retirement savings.

Finance committee  I would take a step back and say that with prospectus mutual funds, you are allowed to do that, and the tax code has provided for that for a long time. I would turn it around and ask why we would distinguish from one vehicle to the other. If it's good enough for one, it's good en

Finance committee  I'm not sure of the percentage.

Finance committee  What would happen is that if there were no merger, the fund would be forced to wind up at that point, and there would be those tax consequences.

Finance committee  It would be deferred. In your RRSP, for example, your contributions grow without incurring tax consequences. It's only when you draw down to live off the money that you pay the tax, as you draw it down. We just want to put this on an equal footing. Because they're holding pool

Finance committee  Thank you, Katie. Investment fund companies manage many funds for insurance companies that are accessed by Canadians through group retirement savings programs or defined contribution pension plans. According to a 2017 report by Strategic Insight, Canadians invested $65 billion

Finance committee  Yes, that's correct. Keep in mind that, from an Income Tax Act perspective, the only difference, really, between a pooled fund and a regular mutual fund is the number of people who hold it. A regular mutual fund has to have 150 unitholders, each holding at least $500. If you don'