Sun Life launches first retirement savings tool of its kind in
Canada
TORONTO, Jan. 28, 2016 /CNW/ - Sun Life Financial has
launched MAX my money@work - an innovative digital enrolment tool
that makes it easier for Canadians to take full advantage of their
retirement savings at work.
"It is estimated that Canadian employees are leaving as much as
$3 billion in company matching money
on the table annually," says Tom
Reid, Senior Vice-President, Group Retirement Services at
Sun Life Financial Canada. "MAX will help to maximize their
participation in their workplace pension plans by offering
suggestions, including how to get the employer match to increase
their retirement savings."
Canadians have become used to reviewing their benefit plans at
work to make changes on an annual basis. For the first time, this
new digital tool does the same for retirement savings plans at work
by automating enrolment and having a regular review of their group
pension plans and savings options.
This regular review of retirement savings plans at work can
result in:
- Increased participation and saving rates
- More active investment decisions
- Up-to-date beneficiary designations
- Helping employers in fulfilling their pension plan
responsibilities
MAX also offers employers the flexibility to select when they
want their employees to review their retirement savings at work.
They can choose to review on an annual basis or more regularly to
help them consider decisions on investments and contributions to
other accounts, including RRSPs and TFSAs, to ensure they're taking
full advantage of their workplace plan.
"Digital innovation is changing how we do business," said
Kevin Dougherty, President Sun Life
Financial, Canada. "Sun Life is at
the forefront of this evolution in providing Canadian employees
with an industry leading digital tool to meet their needs and
change the way they participate in their pension plans at work to
help them prepare for retirement."
For more information, check out the options available,
About Sun Life Financial
Sun Life Financial is a leading international financial services
organization providing a diverse range of protection and wealth
products and services to individuals and corporate customers. Sun
Life Financial and its partners have operations in a number of
markets worldwide, including Canada, the United
States, the United Kingdom,
Ireland, Hong Kong, the
Philippines, Japan,
Indonesia, India, China,
Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2015 the Sun Life Financial group
of companies had total assets under management of $846 billion. For more information please visit
www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New
York (NYSE) and Philippine (PSE) stock exchanges under the
ticker symbol SLF.
Note to Editors: All figures in Canadian
dollars.
SOURCE Sun Life Financial Inc.