Reviews of pension regulations are under way at both the provincial and federal levels. If we can collectively get these changes right, sponsors would have the appropriate incentives needed to manage risk effectively, thus enhancing the viability of our system of private, voluntary defined-benefit pensions for the good of Canadian workers and firms, and for the benefit of our capital markets.
In 2012, when we started these more engaging Divali celebrations we began with the traditional story of Lakshmi who is easily associated with Divali, as she is the Goddess of Light and Prosperity. In 2013, we took a different approach. We realized there were themes and lessons in the Ramayana that were very applicable to the Central Bank.