Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Investing

NEW TOOL MAKES IT EASIER TO SAVE FOR RETIREMENT AND NOT MISS OUT ON EMPLOYER MATCH

Published by Gbaf News

Posted on January 30, 2016

Featured image for article about Investing

Sun Life launches first retirement savings tool of its kind in Canada

Sun Life Financial has launched MAX my money@work – an innovative digital enrolment tool that makes it easier for Canadians to take full advantage of their retirement savings at work.

“It is estimated that Canadian employees are leaving as much as $3 billion in company matching money on the table annually,” says Tom Reid, Senior Vice-President, Group Retirement Services at Sun Life Financial Canada. “MAX will help to maximize their participation in their workplace pension plans by offering suggestions, including how to get the employer match to increase their retirement savings.”

Canadians have become used to reviewing their benefit plans at work to make changes on an annual basis. For the first time, this new digital tool does the same for retirement savings plans at work by automating enrolment and having a regular review of their group pension plans and savings options.

This regular review of retirement savings plans at work can result in:

Increased participation and saving rates
More active investment decisions
Up-to-date beneficiary designations
Helping employers in fulfilling their pension plan responsibilities

MAX also offers employers the flexibility to select when they want their employees to review their retirement savings at work. They can choose to review on an annual basis or more regularly to help them consider decisions on investments and contributions to other accounts, including RRSPs and TFSAs, to ensure they’re taking full advantage of their workplace plan.

“Digital innovation is changing how we do business,” said Kevin Dougherty, President Sun Life Financial, Canada. “Sun Life is at the forefront of this evolution in providing Canadian employees with an industry leading digital tool to meet their needs and change the way they participate in their pension plans at work to help them prepare for retirement.”