Manulife introduces new way to manage the transition into retirement

Retirement Redefined helps plan for a life without employer benefits and a paycheque

Waterloo, ON (Sept. 22, 2016) – Manulife today announced the introduction of an online retirement planning program for Canadians who participate in workplace retirement plans with Manulife and who are about to retire or are 15 years away from retirement. Retirement Redefined is designed to get these individuals to start thinking about the life they want in retirement, planning for their health to support their retirement lifestyle and the finances to achieve it. It is a personalized solution that includes planning tools and advice for group retirement customers to build a roadmap.

Only 22 per cent of Canadians between the ages of 55 – 65 are regularly saving and feel they are on track for reaching their retirement goals according to Manulife’s 2015 Financial Wellness survey conducted by Environics Research. There are more than 500,000 Canadians over the age of 50 enrolled in their employer’s Group Retirement plans managed by Manulife who are saving for their retirement.

“Too many people are leaving the security of their workplace without knowing how they will spend their time, pay for health costs or how to generate income in retirement,” said Sue Reibel, Executive Vice President, Institutional Markets, Manulife. “Retirement Redefined truly redefines how our customers think about and plan for retirement. It provides an engaging experience along with tools and resources, such as a team of professional Retirement Counselors and financial planners to ensure that future retirees are aware of what insurance and income they will need to have a long and healthy retirement.”

Manulife has created an interactive digital retirement platform in which future retirees can build a unique and personalized retirement vision, set and track goals and access relevant content on their specific retirement plans. The website serves as a foundation for building deeper relationships with Manulife’s customers.

Highlights of Retirement Redefined

  • Consultations with a team of licensed and certified financial planners who can provide advice, plans and help set realistic goals.
  • Tools and calculators – such as net worth calculators, budgeting tools and retirement income reports generated via Manulife’s Steps Retirement Program.
  • Access to relevant and timely content from various health and lifestyle experts.
  • A secure online platform that can be accessed anytime via desktop, tablet or mobile phone after registration.

Successful Initial Roll-Out

Retirement Redefined was successfully tested with the employees of seven global and national companies who have workplace savings plans employees based across Canada. More than 30 per cent of the employees registered for Retirement Redefined over the past year.

Award-Winning Program

Retirement Redefined recently won a Bronze Stevie Award in the Website category for Financial Services. The International Business Awards are the world’s premier business awards program.

About Manulife

Manulife Financial Corporation is a leading international financial services group providing forward-thinking solutions to help people with their big financial decisions. We operate as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions.

At the end of 2015, we had approximately 34,000 employees, 63,000 agents, and thousands of distribution partners, serving 20 million customers. At the end of June 2016, we had $934 billion (US$718 billion) in assets under management and administration, and in the previous 12 months we made more than $25.4 billion in benefits, interest and other payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges and under ‘945’ in Hong Kong.

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