QUEBEC CITY, Oct. 28, 2013 /CNW Telbec/ - Industrial Alliance is pleased to announce the launch of SecurOption - Lifetime Retirement Income, a new guaranteed lifetime retirement income option that is added to its group retirement savings plans.
SecurOption is a simple, innovative and distinctive option offered in Industrial Alliance's group RRSPs and in its deferred profit sharing plans (DPSPs). It allows members to build a guaranteed lifetime retirement income through their group retirement savings plan contributions. They simply choose the portion of the contributions to allocate to SecurOption; deferred annuities are then purchased periodically with these contributions to provide them with ongoing guaranteed retirement benefits.
"SecurOption addresses our clients' dire need for income security. More and more, our clients are looking to increase the guaranteed portion of their retirement income. Contributions to defined contribution pension plans are subject to market ups and downs and don't give members the opportunity to guarantee their retirement income. So SecurOption is the missing piece of the puzzle for investors who are less risk tolerant and seek more security in their plan," says Renée Laflamme, Vice-President, Group Savings and Retirement.
The addition of SecurOption to Industrial Alliance's offering puts the company at the forefront when it comes to group savings plans providing income security.
Further solidifying Industrial Alliance's position as a leading service provider in Canada, this initiative shows once again that clients are the central focus at Industrial Alliance and that innovation and service are at the heart of its strategy.
About Group Savings and Retirement
Group Savings and Retirement offers a wide range of products and services adapted to the needs of savings and retirement plan members. It offers savings products, such as defined contribution plans, as well as institutional money management services and disbursement products. It provides its plan members with a large choice of investment options, such as segregated funds and guaranteed interest investments. With regional offices across Canada, the Group Savings and Retirement sector is one of the largest group savings and retirement service providers in the country.
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. is a life and health insurance company with operations in all regions of Canada as well as in the United States. The Company offers a wide range of life and health insurance products, savings and retirement plans, RRSPs, mutual and segregated funds, securities, auto and home insurance, mortgage loans and other financial products and services for both individuals and groups. The fourth largest life and health insurance company in Canada, Industrial Alliance contributes to the financial wellbeing of over three million Canadians, employs more than 4,300 people and manages and administers around $95 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG.
SOURCE: Industrial Alliance Insurance and Financial Services Inc.
For further information:
Pierre Picard, Manager, Public Relations
Office: 418-684-5000, ext. 1660