Monthly retirement income estimates to launch in June

May 22, 2014

Did you know - 46% of Canadians feel they lack sufficient knowledge about how much retirement income they need (Canadian Unretirement Index, November 2013).

On June 4, we will take an important step in helping your plan members become more confident in their readiness for retirement when we show them their estimated monthly retirement income on mysunlife.ca.

If we have your plan members' salaries, they will also see a bar graph to show their progress toward a retirement goal and an income replacement rate - an industry first in Canada. To review what's changing, review <Monthly retirement income estimates on mysunlife.ca>.

What you need to know

  • If you want your plan members to see the income replacement rate and their progress toward a retirement goal on mysunlife.ca on June 4, you will to provide your members' salaries any time before June 4 <Providing salaries to enhance retirement income details for plan members>
  • On June 4, we will post a message and web banner on mysunlife.ca to let plan members know about this change.

In the coming months, we are going to use this opportunity to launch a campaign to educate members about what they need to know about their retirement income and how using the Retirement Planner can help them understand what income they may have in retirement.

As well, posters and other promotional materials for the Retirement Planner will be available from your Group Retirement Services representative in June.

Questions?
Contact your Sun Life Financial Group Retirement Services representative.