Toronto – June 28, 2005 – Sun Life Financial announced today the launch of a unique pre-retirement seminar series to meet the growing need for pre-retirement planning for members of employer-sponsored group retirement and savings plans. Unlike most financial education sessions which are based on the saving or accumulation phase of life, Sun Life Financial’s new seminars focus on helping employees prepare for the “harvest” period when they will receive income from the retirement accounts they have built over the years. The series includes seminars on overall financial planning, plus interactive workshops helping employees understand their own saving strategies as well as government benefits like Canada Pension Plan (CPP) and Old Age Security (OAS).
“With the baby boom generation coming into retirement, we see a greater need to focus on education for this stage of life,” said Lori Bak, Vice-President, Client Relationships and Marketing, Group Retirement Services. “The demand from employers for this type of education is significant and increasing. Employers feel an obligation to help employees prepare to enter retirement and reap the income from their savings, but need help in delivering this message. Sun Life Financial has invested significantly in this area and will use Certified Financial Planners to deliver these services.”
These seminars are one component of a comprehensive program Sun Life Financial has developed for employees entering the retirement phase of life. Since July 2000, Sun Life Financial’s Group Registered Retirement Income Fund (RRIF), has enabled employers to support their retiring employees by offering many of the same benefits and services they enjoyed as active members of a group plan, in a post-savings environment. Life Income Fund (LIFs), Locked in Retirement Income Funds (LRIFs) and other post-retirement investment products are available to meet varying provincial and pension regulations. In addition, the Harvest Your Savings Guide provides straightforward and concise information to help employees develop a retirement income plan. A dedicated, retirement call centre has been established to support the entire program.
“The seminars raise awareness of these issues with plan members but it is also important to have people ready to address their specific and personal questions. Our call centre was designed to respond to the specific needs of retirees,” said Bak. “People in this phase of their lives have important decisions to make. We recognize that they need a great deal of information and want their questions answered without being rushed.”
The Sun Life Financial pre-retirement seminars, Group RRIF Program, and the Harvest Your Savings Guide are all offered through employer-sponsored group retirement plans with Sun Life Financial. These products and services also complement the education and advice services provided by those advisors involved with group retirement and savings plans.
About Sun Life Financial
Sun Life Financial is the leading supplier of group retirement plan services in Canada with more than CDN$29 billion of assets under administration as of March 31st, 2005, serving one of every three defined contribution plans in Canada. Group retirement services are provided by Sun Life Assurance Company of Canada, a member of the Sun Life Financial group of companies.
Sun Life Financial is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Tracing its roots back to 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2005, the Sun Life Financial group of companies had total assets under management of CDN$366 billion.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under ticker symbol SLF. For more on Sun Life Financial visit www.sunlife.com.
