MONTREAL, Aug. 21 2007 – The Standard Life Assurance Company of Canada is proud to launch a new program designed to help Canadians plan for the financial realities of life and retirement: The Plan for life program.
The majority of working Canadians do not put retirement savings on the top of their financial priority lists. But with a growing population and longer life expectancies retirement dreams threaten to become pipe dreams unless attitudes towards saving for the future shift. Eight (8) out of ten (10) working Canadians (79%) do not have a formal retirement plan. 68% haven’t even determined the amount of money they need to save.(*)
“People aren’t really getting how important financial planning is, and how it doesn’t happen magically or overnight. It’s often because people don’t realize how easy it can be to plan properly and save for the future, so we’re making a point of sending out the wake-up call and teaching them simple ways to get their finances on track” says Teresa Morgan, National Manager of Member Services and Marketing Communications.
Presented with the opportunity of educating the members of their clients’ company retirement programs, which represents almost 600,000 working Canadians, The Standard Life Assurance Company of Canada has created learning materials in a variety of formats that respond to the needs of varying demographics of the Canadian workforce guiding people through the opportunities and challenges of financial planning throughout their careers and into retirement. It is a multi-media program that offers communications, investment tools and personal and online services to their clients’ members.
The Plan for life program hits home with down-to-earth language and situations that address the real challenges, concerns and opportunities people face when it comes to financial planning. This is a relatively uncommon approach in the industry. “It’s not what people are used to seeing from big financial companies,” says Anthony Cardone, Senior VP of Group Savings & Retirement. “No stuffy financial jargon. We’re dropping the old way and talking about what really concerns people when it comes to their money and their future.”
Standard Life works with its clients and advisors to develop a custom communication strategy for employees by selecting from its suite of online, paper and personal materials and services.
And as part of our commitment to ensure that Canadians will have a better tomorrow all printed material created as a part of The Plan for life program is printed on 100% recycled material – it is a “green” part of Standard Life’s holistic approach to creating security and peace of mind for the future.
About Standard Life
The Standard Life Assurance Company of Canada is a major investment, retirement and financial protection company. Along with its affiliated companies in Canada, The Standard Life Assurance Company of Canada had $36.89 billion in assets under management as of December 31, 2006. We offer 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 group has been a prominent player in the Canadian marketplace since 1833. (www.standardlife.ca)
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. (www.standardlife.com)Tags: Capgemini, Efma, InsurTech, World Insurance Report