iAtoday

Starting in July, an advanced version of the retirement simulator will be available to Group Savings and Retirement clients to help guide plan members at each stage of their financial journey.

This advanced version goes beyond accumulation and incorporates a decumulation logic. It provides a clearer understanding of projected retirement income based on contributions, returns, withdrawals during retirement and desired lifestyle.

Key takeaways

• Customizable data and assumptions that illustrate how financial decisions, such as occasional withdrawals during retirement, will affect income.
• Clear presentation of income sources and withdrawal strategies.
• Automatically generated personalized report to aid decision making.

This advanced version of the simulator helps turn goals into concrete plans and supports informed and confident decision making. It also offers a comprehensive understanding of a person’s financial situation by including all income sources and expected expenses.

This tool provides a practical way to enhance your conversations with clients and reflects our commitment to getting ahead to deliver innovative solutions for total financial wellbeing that are aligned with the changing needs of plan members.

A seamless transition

The simplified (current) version of the retirement simulator will continue to be available, with no loss of data, to ensure continuity. Because the advanced version incorporates additional information on savings and goals, transferring data to it could have resulted in differences in retirement projections.

The advanced version therefore provides plan members with an opportunity to update their data and review their retirement goals in order to obtain a more realistic projection.

Ready-to-use communication campaign

Our Client Relationship Managers will encourage sponsors of group retirement savings plans to deploy the campaign in their organization and will supply them with the following promotional materials:

• An email to send to plan members (French version)
• A poster to print and display in their premises (French version)