August 08, 2018

Introducing Target Income Plan™, hands-free investing for the retirement income your employees want

In June 2017, we announced that we were working on a revolutionary target date investment solution designed to get plan members to focus on the income they need in retirement, and help get them closer to their goals.

We are thrilled to report that you can now offer this next-generation solution, named Target Income Plan™, to your employees.

Presenting Target Income Plan™ from Sun Life
Target Income Plan™ is the first and only truly “Do it for me” investment approach for retirement savings in Canada. It provides members with a personalized investment path and meaningful choices to help them achieve their target retirement income goal. 

How Target Income Plan™ works
Unlike traditional target date funds, the Target Income Plan™ uses a range of personal informationdata like age, workplace savings plan balances, contribution rates, salary, and income they can expect from government plans—to create a guided retirement planning and personalized investment experience.

With answers to three simple questions:

  1. When do you want to retire?
  2. How much retirement income do you want?
  3. And how much can you contribute every month?

The Target Income Plan™ illustrates how members are doing relative to their retirement income target, provides nudges to specific actions to get on track, and then makes it simple to actually take action in a single sitting. Investments are automated based on each member’s progress to their personal retirement income target.

Is Sun Life’s Target Income Plan™ the right fit for you?
Consider the Target Income Plan™ if you:

  • Are concerned with retirement income adequacy for your employees and want to provide them with a retirement solution that automates investing and income risk management;
  • See the merits of target date investing, but see the benefits of creating a much more personalized investment experience reflecting a much wider range of data that influences retirement income;
  • Are well-aware of the benefits of managing risk (maybe from a defined benefit plan) and want to bring best-practice risk management to your defined contribution plan.

Take the next step
For more information, check out our brochure.

Want to discuss how to integrate Target Income Plan™ into your organization’s workplace savings plan? Contact your Sun Life representative today.