2017

October 10, 2017

Upcoming fund changes affecting Choices retirement savings and income plans

The changes include fund renamings, additions to the fund lineup and a fund sweep.

Fund Renaming:
On October 1, 2017, the MFS Canadian Equity Growth Segregated Fund has been renamed the MFS Canadian Equity Segregated Fund and the MFS Canadian Equity Value Segregated Fund has been renamed the MFS Low Volatility Canadian Equity Segregated Fund.

Current Fund Name New Fund Name Investment Strategy
MFS Canadian Equity Growth Segregated Fund MFS Canadian Equity Segregated Fund No change to the fund's investment approach.
MFS Canadian Equity Value Segregated Fund MFS Low Volatility Canadian Equity Segregated Fund The investment strategy of this fund has also changed to reflect a low volatility approach with less downside risk than the S&P/TSX Capped Composite Index.

How will impacted plan members be notified?
Members in AssetAccumulator Plan (6MR*) will be notified through online messaging as soon as possible, as well, a message will appear on their October 31, 2017 annual statement. Members in all other plans including AssetBuilder Plan (6MQ*), Group Choices Plan (8QF*), Group Choices Retirement Income Program (9VC*), Sun Life Financial Retirement Income Plan (A1T*), Group Choices Plan (H49), Group Choices Plan (BB9), Sun Life Financial Group Retirement Income Plan (G83), Group Choices Retirement Income Program (BB3) and Sun Life Financial Group Retirement Income Plan (YTM) will receive a message on their December 31, 2017 annual statement.

Fund Additions:
On November 3, 2017, we are pleased to announce a new selection of funds will be added to the following Choices retirement savings and retirement income plans, to enhance the fund lineups and provide more choice for members in these plans.

Choices Plans Funds Added

AssetAccumulator Plan (6MR*)

AssetBuilder Plan (6MQ*)

Group Choices Plan (8QF*)

Group Choices Retirement Income Program (9VC*)

Sun Life Financial Retirement Income Plan (A1T*)

  • BlackRock U.S. Equity Index Segregated Fund (registered-only)
  • PH&N Bond Segregated Fund

 

Group Choices Plan (H49)

Sun Life Financial Group Retirement Income Plan (G83)

Sun Life Group Retirement Income Plan (YTM)

  • BlackRock Aggressive Balanced Index Segregated Fund
  • BlackRock Conservative Balanced Index Segregated Fund
  • BlackRock Moderate Balanced Index Segregated Fund
  • BlackRock U.S. Equity Index Segregated Fund (registered-only)

Group Choices Plan (BB9)

Group Choices Retirement Income Program (BB3)

  • BlackRock U.S. Equity Index Segregated Fund (Registered-only)

How will these changes affect you and your plan members?
The addition of the new funds will provide a more diverse investment selection for plan members in these plans. Plan members who have access to these new investment options will see a message on their year-end statement.

Fund Sweep:
On May 29, 2018, the Trimark Canadian Bond Segregated Fund will be removed from our fund lineup. Any member assets in this fund on that date will automatically transfer to the PH&N Bond Segregated Fund.

Fund Sweep Replacement Fund Notes
Trimark Canadian Bond Segregated Fund PH&N Bond Segregated Fund Registered-only - All member assets in this fund will be automatically transferred.
Trimark Canadian Bond Segregated Fund PH&N Bond Segregated Fund Non-Registered only - This transaction may result in a taxable capital gain or loss for members whose assets in this fund are in a non-registered product.

Plans Impacted:
AssetAccumulator Plan (6MR*), AssetBuilder Plan (6MQ*), Group Choices Plan (8QF*), Group Choices Retirement Income Program (9VC*), Sun Life Financial Retirement Income Plan (A1T).

How will these changes affect plan members?
Any assets members have in this fund on May 29, 2018 will automatically transfer to the PH&N Bond Segregated Fund. Once the transfer is complete, members will see a sale of the discontinued Trimark fund and the purchase of the replacement PH&N fund reflected in their account. Members are able to change their investments at any time prior to the automatic transfer on May 29, 2018.

How will impacted plan members be notified?
Members in AssetAccumulator Plan (6MR*) will be notified on their October 31, 2017 annual statement. Members in all other plans will receive a message on their December 31, 2017 annual statement.

Questions?
Vera Bergman
, Product Manager, Wealth Accumulation, Client Solutions
416-342-7113 | vera.bergman@sunlife.com

 

*Plan closed to new members.