MONTREAL, Nov. 22 2010 – Standard Life presents the new Plan for lifeTM statement that group savings and retirement plan members will receive starting January 2011. Considered to be one of the main tools that can contribute to sound financial planning, the revamped statement highlights the important information members need in order to make informed decisions about their retirement income planning.
Standard Life’s Plan for life program is an integrated communication, investment and service program, which helps Canadian members prepare for financial realities. The new statement is part of a series of educational tools and documents offered under the program.
“Canadians need to take control of their financial future and spend more time planning their lives after their careers. To help them do so, Standard Life offers its clients various tools that are easy to understand, effective, educational and engaging. Standard Life’s new Plan for life statement easily meets those criteria,” notes Emmanuelle Couillard, Manager, Product Management, Group Savings and Retirement Members.
The first page provides an overview of the group savings and retirement plan and helps members quickly answer the three most important questions. How am I doing? Am I on track? What should I do to reach my retirement goals? Members will be able to immediately see if changes need to be made to their personal profile, understand why, and make some adjustments when necessary.
Some data are presented graphically in order to offer an even clearer picture. Customized messages and suggestions encourage members to move from passive to active mode. For example, the messages may offer suggestions on how a member can close the gap between his retirement goal and projected retirement income, or point out a discrepancy between the member’s target retirement age and selected investment period. They may also congratulate a member for being on track towards his retirement income goals.
Standard Life continues to encourage members to choose the electronic version of the new Plan for life statement, which contains the same information as the paper version.
About Standard Life
Established in 1825, Standard Life is a leading provider of long-term savings and investment solutions to over 6 million customers worldwide. Headquartered in Edinburgh, Scotland, Standard Life has around 10,000 employees across the UK, Canada, Ireland, Germany, Austria, India, USA, Hong Kong and mainland China. It had C$311 billion in assets under administration, as of September 30, 2010.
In 2006, after 80 years as a mutual company, The Standard Life Assurance Company demutualized and Standard Life plc was listed on the London Stock Exchange. Standard Life plc now has approximately 1.5 million shareholders in over 50 countries, including 13,000 in Canada.
In Canada, Standard Life has been doing business for over 175 years. Standard Life Financial Inc., which wholly owns The Standard Life Assurance Company of Canada and Standard Life Mutual Funds Ltd., is Standard Life plc’s largest operation outside the UK. With over 2,000 employees based in Montr�al and in offices across Canada, it provides long-term savings, investment and insurance solutions to more than 1.3 million Canadians, including group insurance and retirement plan members. It had C$38.2 billion of assets under administration, as at September 30, 2010. www.standardlife.ca