We are pleased to announce the launch of our renewed Retirement planner. It’s smart and simple. It will help your employees know if the money they're saving today will fund the retirement they want. The Retirement planner includes a brand new Budget calculator that helps employees make financial changes to achieve their retirement goals.
What is the new Budget calculator?
The Budget calculator helps your employees gain an understanding of their retirement income and expenses. They can choose from six individual lifestyles. Each provides a pre-set retirement income goal and estimated monthly costs. Employees can also create their own custom retirement budget. The retirement profiles are created based on Environics Analytics research data of various Canadian retirement segments. Using behavioural economic principles in our digital design, we’ve made significant improvements to enhance the member experience and drive better outcomes.
What is the enhanced Retirement planner?
Once an employee has set their retirement goal with the help of the Budget calculator, the Retirement planner will provide them with personalized results to help achieve their desired retirement readiness. Employees can add their current income, current savings and retirement income, including government benefits.
Have the updated version of your plan turned on? Your employees will now see the achievement tower. It’s another great visual to show your employees if they are on track to meet their retirement goals.
Under the ‘‘Explore how much to contribute’’ section, employees can see how much it would take to reach their retirement goal.
You can find the Retirement planner and Budget calculator on mysunlife.ca in the ‘my money tools’ section. Messages are live on mysunlife.ca to promote the Retirement planner tool.
Below you will find a flyer to help you promote this enhanced tool to your employees:
Retirement planner: download flyer
If you have questions, please contact your Sun Life Group Retirement Services representative.
