Manulife launches RetirementPlus: first product in Canada to adjust to changing markets and client goals
WATERLOO, ON, Sept. 17, 2013 /PRNewswire/ - Manulife Investments today announced the launch of Manulife RetirementPlus™, designed for people who are between five and 15 years from retirement. Manulife RetirementPlus provides the opportunity for retirement savings growth through equity participation, the potential to benefit from rising interest rates, and the option to choose a future guaranteed lifetime income - all within a single flexible contract.
"Manulife RetirementPlus is the first-of-its-kind in Canada to offer clients the opportunity to benefit from market upside potential and unprecedented flexibility to customize their retirement plan," said Paul Lorentz, Executive Vice President and General Manager, Retail Markets. "Manulife RetirementPlus is another example of our forward thinking approach to the retirement solutions space."
Manulife RetirementPlus has three phases that help support clients through the key stages of retirement preparation: Savings, Preservation and Income.
- In the Savings Phase, clients participate fully in the markets and have a broad range of investment options to choose from, with up to 100 per cent equity. They also benefit from potentially rising interest rates that can enhance their future guaranteed income.
- When clients choose to secure a future guaranteed income rate, they can move some or all of their assets into the Preservation Phase, and have the option of being in both Savings and Preservation phases at the same time.
- Finally, in the Income Phase, clients can elect to draw a partial or full retirement income when needed, starting as early as age 50.
Manulife RetirementPlus can adapt to changing market conditions and offers clients the flexibility to design retirement plans that suit their needs and timing - clients choose how long to participate in the markets and if and when to draw a guaranteed income to meet their full or partial retirement needs.
"Retirement at age 65 is no longer a foregone conclusion for most Canadians" said Steve Parker, Assistant Vice President, Guaranteed Investment Products, Retail Markets. "As a result, clients need investment solutions that can adapt to their changing lifestyles. Manulife RetirementPlus offers clients a flexible retirement solution that can be customized to their individual needs."
Manulife RetirementPlus will be available for sale starting October 28, 2013.
About Manulife Investments
Manulife Investments is the brand name describing certain Canadian subsidiaries and operating divisions of Manulife Financial Corporation that offer personal wealth management products and services in Canada. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated fund contracts, mutual funds, annuities and guaranteed interest contracts.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$567 billion (US$539 billion) as at June 30, 2013. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
SOURCE Manulife Financial Corporation