TSX/NYSE/PSE: MFC; SEHK: 0945
TORONTO, June 13 /CNW/ - Manulife's newest communication tool for pension
plan members - the innovative Member Progress Report - will be introduced in
July to members of group retirement savings plans with Manulife across Canada.
This clear, member-friendly statement is another exciting addition to the
services Group Savings and Retirement Solutions (GSRS) provides for plan
sponsors and their members.
The first page of the Member Progress Report displays the information
members value most: current account balance plus an estimate of annual
retirement income. The statement also highlights items that may require
members' attention including beneficiary designations and investment
"The new Member Progress Report builds on the foundation that makes our
original statement the leader in the Canadian marketplace," said Paul Lorentz,
Manulife's Senior Vice President, GSRS. "After reading their new statement,
plan members will have a clear sense of where they stand currently along with
an estimate of where they can expect to be at retirement."
The Member Progress Report gives members a better understanding of how to
save for a comfortable retirement by offering suggestions to members who are
not on track to meet their retirement goals. This feature helps to close a key
knowledge gap identified among Canadian investors. In a recent survey
conducted by a Canadian benefits publication, 69% of plan members felt that
retiring comfortably was very important, yet only 34% of plan members felt
they had a good understanding of how much they will need to save to achieve
"While the Member Progress Report enhances the information we deliver to
plan members, it also supports plan sponsors' efforts to provide effective
plan governance," added Mr. Lorentz. "This new Report delivers vital
information to their members effectively on a continuing basis - an important
consideration from a CAP governance perspective."
With this innovation, Manulife takes its next step towards being the
Canadian group savings provider that best engages plan members in building a
more comfortable retirement. The Member Progress Report - in concert with
Manulife's Steps Retirement Program(R) and Personalized Member Newsletters -
ensures that plan members receive personally relevant information on a regular
Plan members will receive their first Member Progress Reports in July
2007. Members will continue to receive Manulife's more detailed offering -
ranked No. 1 by Dalbar in its most recent review of defined contribution
statements - at December 31 of each year.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group
serving millions of customers in 19 countries and territories worldwide.
Operating as Manulife Financial in Canada and Asia, and primarily through John
Hancock in the United States, the Company offers clients a diverse range of
financial protection products and wealth management services through its
extensive network of employees, agents and distribution partners. Funds under
management by Manulife Financial and its subsidiaries were Cdn$426 billion
(US$370 billion) as at March 31, 2007.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '0945' on the SEHK. Manulife Financial can be found on the Internet
For further information:
For further information: Media contact: Tom Nunn, Manulife Financial,
(519) 594-8578, email@example.com