MAX my money @ work

MAX my money @ work

MAX my money @ work

 
We're thrilled to introduce MAX my money @ work – the new digital enrolment tool that revolutionizes how plan sponsors handle their fiduciary responsibilities and regularly engage their plan members in their workplace retirement and savings plan.


MAX my money @ work is made up of three components that will launch over the next few years:
 

MAX review
Guides existing plan members and eligible non-participating employees through the review process, providing a range of options to optimize their current decisions and maximize their participation in their workplace retirement and savings plans – available now.
MAX express
Guides employees to enrol in their workplace savings plan quickly and easily.
MAX enrol
Guides employees through the full enrolment process, providing a range of options to personalize their plan options along with helpful tips.

ABOUT MAX REVIEW

Our 2015 launch is centred around MAX review – where existing plan members review their workplace retirement and savings plan to ensure these choices are still right for them.

With simple, clear instructions and visuals, MAX review brings members through a simple web experience that “nudges” them to make or review decisions in their workplace retirement and savings plans.

Plan sponsors can tailor the robust and flexible process to take the form of an annual review or be linked to specific plan member campaigns – whether to increase contributions or allocate bonuses, add a secondary account (such as a TFSA or RRSP), reconsider investment choices, or review beneficiary designations.

The potential benefits for plan members and plan sponsors are many:

  • Increased participation and contribution rates
  • More active investment decision making
  • Up-to-date beneficiary designations
  • Greater certainty for plan sponsors in fulfilling their fiduciary responsibilities, reducing potential risk for an organization.

NEW EMPLOYEE ENROLMENT COMING SOON

MAX my money @ work brochureOver the next few years, we’ll be introducing MAX express, a quick digital enrolment experience for new employee, and MAX enrol, a comprehensive digital enrolment experience for new plan members. All three experiences employ important “nudges” or recommendations designed to increase plan members’ knowledge and encourage them to take maximum advantage of what their retirement program offers – especially as their lives and career stages change.

Over time, the full MAX my money @ work capability will replace paper enrolment and our current online enrolment system. It’s an industry-first initiative that redefines the standard for how plan members engage in plan decisions and to increase their retirement readiness.

QUESTIONS?

We are very excited about our latest workplace savings innovation – and hope you are too. If you have any questions about the tool, please contact your Group Retirement Services representative.