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Retirement Services Program - Overview
“At least half of the working Canadians who don't have a company-sponsored pension plan would change companies to get one.’’
Angus Reid national poll findings
Canadian workers know inflation and the uncertainty of government security programs mean that they have to take control of their retirement planning.
Your credit union’s relationships between employees and members are a key differentiating value over larger financial institutions. Consider that a company-sponsored pension plan represents a critical competitive advantage to attracting and retaining members. And a company-sponsored pension plan helps you recruit and retain the best employees to serve those members.
Your competitors know this, too. Today's Canadian pension and retirement savings market is worth close to a $1 trillion and it’s growing.
Offer Retirement Services Program To Your Business Customers
Our Retirement Services program also represents an excellent opportunity for your credit union to deliver significant value to business customers. When you offer those customers services that reduce internal administrative costs and improve their competitive advantage in the market, they remain loyal to your credit union.
CUMIS Retirement Services Program
Our Retirement Services program offers your credit union and business customers an exceptional line of retirement savings plans. Let’s look at the benefits to your credit union first.
Our Retirement Services program features flexible, tax-effective and cost-efficient retirement savings plans with customized programs that respond to your credit union’s needs, as well as your employees’ expectations.
- We shop for competitive annuity rates
- We have diversified professionally managed investment funds
Our Retirement Services program is ideal for your credit union that may:
- Have no retirement savings programs
- Want a higher return potential on your in-house retirement savings plan
- Have a pension plan and are looking to supplement or replace it
Your credit union may have an employee savings plan already but you are looking for ways to reduce the administrative costs and resources of managing your program. With our Retirement Services program, your credit union simply remits their contributions; we do the rest.
You can count on us for:
- Accurate and timely transaction handling
- Comprehensive and flexible reporting
- Knowledgeable, professional pension experts
We also provide:
- Hotline support for you and your employees
- Drafting of plan documents, booklets and government forms
- Registration of plan and ongoing government reporting
- Retirement planning information
- Regular investment updates
Meeting the Individual Employee’s Needs
No one fund can accommodate the varying investment needs from employee to employee. A thirty year-old employee has time for long-term savings, while a 60-year-old needs short-term stability. That is why our investment portfolio includes funds from all risk and return categories. It can accommodate any personal investment objective.
We have two strategic partners:
Our Retirement Security Fund (RSF) is a unique, long-term guaranteed investment vehicle designed specifically for pension retirement savings. This prudent investment fund consistently provides stable returns regardless of the uncertain economy.
- All funds, except for the RSF, are valued daily
- Our funds have no front- or back-end load fees. Unlimited transferring between funds is allowed but this should be considered with caution
Also, our Retirement Services program combines both active and passive investment vehicles, as well as our own RSF.
These features represent a valuable opportunity for you to increase services to your business customers.
Our Retirement Services program is part of a comprehensive portfolio of wealth management and insurance services.We are, by far, Canada’s leading provider of pensions, realted financial services and insurance programs to Canada's 716 credit unions and caisses populaires and their 4.5 million members. We have been providing exceptional insurance programs to credit union members since 1937 and we have more than $16-billion of life coverage assets.
Interested?
Want to discuss how you can grow your business and retain your best employees? Interested in learning how you can better serve your business customers? Please contact Ken Richards, Manager, National Sales & Service at 416-249-0084 or via e-mail.
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