It’s here: 2023 Designed for Savings flagship report!
Designed for Savings 2023, Sun Life’s deep dive into retirement and savings plans in Canada, is now live!
Our flagship report analyzes data from 1.4-million retirement savings participants, 7,500+ group plans with $105-billion in assets under administration from our proprietary database. This represents the largest pool of Capital Accumulation Plan data in Canada. Decision-makers across the country rely on the report’s insights on emerging trends.
This report looks at the latest trends in member behavior, plan design, investments, as well as the complexities of decumulation, and much more.
Highlights:
Our 2023 edition captures the resilience of plan members and sponsors in the face of recent challenges: a pandemic, labour shortages, and higher inflation and interest rates.
Beyond updates to benchmarking statistics, Designed for Savings provides actions you can take to help support you and your members achieve improved retirement outcomes.
Among the industry leading insights, you’ll find:
- Contribution rates and total savings by industry
- Contributions by size of employer and age range of participants
- Investing trends for Defined Contribution Pension Plans, RRSPs, TFSAs and more
- Member assets by age and tenure
- Member behaviour in the face of economic volatility
- Decumulation: How much members have saved for retirement, their withdrawal patterns and products owned.
Learn more about this years Designed for Savings report
In addition, we’re pleased to announce the launch of our decumulation playbook. It outlines the ways we can support your plan members in creating and executing a retirement income strategy. It also highlights the options you have to help your plan members generate adequate and sustainable retirement income.