MONTREAL, Dec. 11 /CNW Telbec/ - The Standard Life Assurance Company of
Canada announced today the launch of the Retirement checkup, an innovative
retirement projection tool designed to engage group plan members in taking
action in their retirement plans. The new tool is an integral part of the
award-winning Plan for life program Standard Life launched in April 2007.
According to a recent survey(1), 52% of group plan members are unsure of
how much to contribute today so that they have the money they need at
retirement. Standard Life designed the Retirement checkup in response to that
requirement and to help members stay on track.
Standard Life's Retirement checkup provides members with an annual
snapshot, included in their annual statements, of their projected retirement
income to assist members in determining whether their savings are in line with
their retirement goals. Members can get a more accurate picture of their total
retirement income by adding in their estimated retirement income from other
sources, such as government benefits, other registered accounts or previous
employer plans. The Retirement checkup assists members in identifying gaps or
surpluses in their annual retirement income so that they can adjust their Plan
for life by following the directions provided.
"Standard Life is there to help every step of the way and our Retirement
checkup specifically assists members in understanding the value of their
current contributions and how this translates into retirement income," said
Teresa Morgan, National Director, Member Services and Marketing
Communications, Group Savings and Retirement of Standard Life.
In addition to helping members, the Retirement checkup will assist plan
sponsors in meeting CAP governance requirements while reinforcing their
commitment to their members' financial well-being.
"Responding to plan sponsor expectations by developing new holistic
solutions is the underlying reason of all of our initiatives," said Anthony
Cardone, Senior Vice-President, Group Savings and Retirement of Standard Life.
About Standard Life
The Standard Life Assurance Company of Canada is a major investment,
retirement and financial protection company. Along with its affiliated
companies in Canada, it had $37.9 billion in assets under management as of
June 30, 2007. It offers a wide range of financial products and services to
over 1.31 million individuals, including group insurance and pension plan
members. Total premium income and deposits reached $5.17 billion in 2006.
Standard Life group has been a prominent player in the Canadian marketplace
since 1833. (www.standardlife.ca)
The Standard Life group is a leading provider of financial products and
services, with approximately 7 million customers and 1.5 million shareholders
worldwide. As of December 31, 2006, its investment management business had
$301 billion in assets under management. Founded in Edinburgh (Scotland) in
1825, The Standard Life Assurance Company demutualized in 2006 and a new
public company - Standard Life plc - was born. Standard Life plc was listed on
the London Stock Exchange (LSE), under the ticker symbol SL., on July 10,
2006. Standard Life plc entered the FTSE 100 on September 18, 2006, after the
quarterly review of the index by the FTSE group. In March 2007, Standard Life
plc became part of the FTSE4Good Index, which is used to identify companies
that meet globally recognized corporate responsibility standards.
(1) CAP Member Survey, September 2007, Rogers Business and Professional
Publishing Research Group
For further information:
For further information: Ann-Marie Gagné, Standard Life, (514) 499-7999,