MONTREAL, April 23 2007 – Standard Life is pleased to announce that Performance Annuity, one of the first market-based annuities available in Canada, is now also being offered on a non-registered basis.
With this new offering, Standard Life strengthens Performance Annuity’s positioning as a complete retirement solution providing an income for life.
“Thanks to the non-registered Performance Annuity, Standard Life meets the needs of investors who also have non-registered funds to invest,” says Michel Fortin, Actuary and Vice-President, Marketing, Retail Markets. “Whether the monies are registered or not, Performance Annuity provides two important benefits: the security of an income for life and the possibility for growth from market returns. This provides the best of both worlds, especially for baby-boomers who have participated in capital markets during their accumulation phase.”
Performance Annuity is made up of a fixed portion that provides level income, and a variable portion that is linked to the performance of leading indexes. Investors can choose from one of four pre-determined profiles or build their own custom Performance Annuity. Performance Annuity can also evolve as clients’ needs change, making this a very flexible investment product.
“Performance Annuity is a solid choice for retirees seeking the comfort of knowing they won’t outlive their assets,” adds Mick Kelly, Vice-President, Sales, Retail Markets.
About Standard Life
Standard Life (www.standardlife.ca) is a major investment, retirement and financial protection company. Along with its affiliated companies in Canada, as of December 31, 2006, The Standard Life Assurance Company of Canada had $36.89 billion in assets under management and provided a wide range of financial products and services to over 1.31 million individuals, including group insurance and pension plan members. Total premium income and deposits reached $5.17 billion in 2006. Standard Life has been a prominent player in the Canadian marketplace since 1833.
The Standard Life group is a leading provider of financial products and services, with approximately 7 million customers and 1.5 million shareholders worldwide. As of December 31, 2006, its investment management business had $301 billion in assets under management. Founded in Edinburgh (Scotland) in 1825, The Standard Life Assurance Company demutualized in 2006 and a new public company – Standard Life plc – was born. Standard Life plc was listed on the London Stock Exchange (LSE), under the ticker symbol or code SL., on July 10, 2006. Standard Life plc entered the FTSE 100 on September 18, 2006, after the quarterly review of the index by the FTSE group. In March 2007, Standard Life plc became part of the FTSE4Good Index, which is used to identify companies that meet globally recognized corporate responsibility standards.
Source: Standard LifeTags: Standard Life