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Designed for Savings is Sun Life’s flagship biennial examination of capital accumulation plans in Canada.

Using Sun Life’s unparalleled database of 1.3 million group retirement savings participants, this comprehensive report is the most authoritative look at group retirement savings in Canada.

Read the 2021 Report

Designed for Savings is Sun Life’s flagship biennial examination of capital accumulation plans in Canada.

Using Sun Life’s unparalleled database of 1.3 million group retirement savings participants, this comprehensive report is the most authoritative look at group retirement savings in Canada.

Read the 2021 Report

New in 2021

As an indispensable resource, Designed for Savings supports data driven plan design, with human insights. And we’re committed to providing this information on a regular basis; analyzing data in new ways.

We hope the report provides you with actionable insight to better support you and your plan members.

Key Highlights

Decumulation of retirement savings

The decumulation phase, or when retirement savings are turned into income, is essential for understanding how prepared savers are for their needs in the present and the future. The report delves into how these savings will be accessed in retirement.

Designed for Savings 2021 Report | Workplace Benefits and Retirement Services | Sun Life

Source: Financial Planning Standards Council, Projection Assumption Guidelines assuming age 65 reached (based on the 2014 Canadian Pensioners’ Mortality Table published by the Canadian Institute of Actuaries). 

Diagram depicting retirement age and sex at birth. A 65 year old man has a 50% chance of living to 89 and a 25% chance of living to 94. A 65 year old woman has a 50% chance of living 91 and 25% chance of living to 95. A 65 year old couple has a 50% chance one person lives to 94 and a 25% chance one person lives to 98.

The impact of COVID-19 on savings

Despite employment and market uncertainty brought on by the pandemic, our findings show robust resiliency of contribution rates.

Illustrative icons. 23% of plan members made withdrawals during the pandemic. 5.5% of plan members made an interfund transfer during the pandemic. 13% of plan members made changes to their contribution levels during the pandemic.

Designed for Savings Archives

Cover image of 2019 designed for savings report

Designed for Savings 2019

Read the 2019 Designed for Savings Report

Designed for Savings 2017

Click here to view a snapshot of what you can find in the reports!

Designed for Savings 2016

Read the 2016 Designed for Savings report