March 11, 2019

MFS adds new 2060 fund to LifePlan target date fund series

Sun Life Assurance Company of Canada purchases units of the funds listed below, which are established as segregated funds in accordance with the Insurance Companies Act (Canada).

MFS Investment Management Canada (MFS) has added a new target date fund to its LifePlan Target Date Fund series (“LifePlan”). Effective March 1, 2019, the MFS LifePlan 2060 Target Date Segregated Fund (LifePlan 2060) is available on Sun Life Financial’s Core investment platform. Plans that currently offer LifePlan to their plan members will automatically have LifePlan 2060 added on March 1, 2019.

Investment managers periodically add new longer-dated funds to their target date series to better match the time horizons of younger plan members. Plan members expecting to retire around the year 2060 may benefit from this new fund. The LifePlan 2060 fund’s asset mix will initially mirror the LifePlan 2055 fund but will diverge over time.

About the MFS LifePlan series of target date funds
LifePlan combines a quantitative discipline with globally diverse investment strategies and risk management tools resulting in a glide path and asset allocation that seeks to minimize behavioral biases, grow participants' assets during their working life, and preserve those assets as they enter retirement. The asset allocation LifePlan is managed by MFS' Quantitative Solutions team, led by portfolio managers Joseph Flaherty and Natalie Shapiro.

How will this impact you and your plan members?
If you currently offer LifePlan to your plan members, LifePlan 2060 was automatically added to your fund lineup on March 1, 2019. No action is required by you or your plan members.

Please contact your Sun Life Financial Group Retirement Services representative.