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Group Retirement Savings Plan for the Employees of. Setting Sail for the Future. Define your Retirement Objectives. Projects Dreams _______ _______ _______. At what age?. The Ideal Age for Canadians. … 58 years of age!. Source : Desjardins Financial Security Retirement Survey. - PowerPoint PPT Presentation
Citation preview
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Define your Retirement ObjectivesDefine your Retirement Objectives
Age 55Age 55
Age 60Age 60
Age 65Age 65
At what age?At what age?
Projects Dreams _______ _______ _______
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The Ideal Age for CanadiansThe Ideal Age for Canadians
Source : Actuarial assumptions calculated by Desjardins Financial Security
… 58 years of age!
……and what is your ideal age?and what is your ideal age?
Source : Desjardins Financial Security Retirement Survey
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How much will you need for a How much will you need for a comfortable retirement?comfortable retirement?
The 70% ruleThe 70% ruleExample : Mr. Martin's
situation
Current salary $75,000
The 70% rule x 70%
Income at retirement (in today's dollars)
= $52,500
A detailed budgetA detailed budgetor
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Explore the various sources of Explore the various sources of income at retirement income at retirement
Personal savings / Group plan
QPP/CPP
OASIncome before retirement
(IBR)
Inco
me
at re
tirem
ent
(70%
of I
BR
)
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Plan HighlightsPlan Highlights
Type of Plan:Type of Plan: Group RRSP
Plan Objective:Plan Objective: Save for retirement
Plan Eligibility:Plan Eligibility: 1 year of employment
Participation:Participation: VoluntarySpousal account authorized
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Contributions :Contributions :
Employee: 1% to 17% of salary
Employer:100% on the 1st 1% of employee contribution (maximum of $500)
Transfers from other plans: Transfers from other plans: Allowed
Plan HighlightsPlan Highlights
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Benefits upon termination:Benefits upon termination:Destination RRSP, RRIF, Cash
Benefits upon death:Benefits upon death:Payable to the designated beneficiary
Withdrawals while employed: Withdrawals while employed: Allowed for employee contributions only
Plan HighlightsPlan Highlights
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Advantages of your PlanAdvantages of your Plan
The company contributes on your behalf Payroll deductions reduce your taxable income Wide selection of funds to choose from No minimum or maximum investment per fund Easy member access to information and assistance
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Start Early and Accumulate More!Start Early and Accumulate More!
Contribution of $2,000 annually or $5.50 per day
Time is on your side…Time is on your side…
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Time is on your Side!Time is on your Side!
* Estimated annual return of 6.5%
126% more in savings!
Investment of $20 x 52 weeks x 40 years Investment of $40 x 52 weeks x 20 years
Acc
umul
ated
val
ue
at re
tirem
ent
Accumulation period
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A Three-Step ApproachA Three-Step Approach
1.1. Fill out the questionnaireFill out the questionnaire
2.2. Determine your investor profileDetermine your investor profile
3.3. Choose your investmentsChoose your investments
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Determine your Investor Profile Determine your Investor Profile **
* Questionnaire available on our Participant Services Web site or in your Enrolment kit
Identify your risk toleranceIdentify your risk tolerance
Balanced
Growth EnergeticSpeculative
SecureModerate
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Choose your Investments Choose your Investments **
Select a lifecycle pathSelect a lifecycle path
3 lifecycle paths available3 lifecycle paths available
AAdapted to your age and risk tolerancedapted to your age and risk tolerance
Select your fundsSelect your funds
6 multi-management funds or 6 multi-management funds or guaranteed fundguaranteed fund
Based on your investor profile…Based on your investor profile…
* Refer to the "My Investment Funds" document to know the options applicable to your plan
or
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Select a Lifecycle PathSelect a Lifecycle Path
Your investor Your investor profileprofile
Your Your ageage
Your path towardsYour path towardsretirementretirement
Secure Path
Automatic evolution of investmentsQuarterly rebalancing
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Select your FundsSelect your Funds
Multi-management 20/80 Fund
Multi-management 35/65 Fund
Multi-management 100 Fund
Multi-management 80/20 Fund
Multi-management 65/35 Fund
Multi-management 50/50 Fund
Secure profile Moderate profile Balanced profile
Speculative profileEnergetic profileGrowth profile
Pre-determined asset allocationQuarterly rebalancing
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Guaranteed FundGuaranteed Fund
Guaranteed return Term of 5 years Redeemable at any time
Select your FundsSelect your Funds
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Returns: Short Term vs. Long TermReturns: Short Term vs. Long Term
The impact of a market downturn
is temporary if you stay invested!
For your retirement, focus on long-term returns
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Setting Sail for the Future Education CentreSetting Sail for the Future Education CentreGuidance & support in planning your retirementGuidance & support in planning your retirement
Setting Sail for the Future Phone lineSetting Sail for the Future Phone line
• Transactional services• Changes to your plan• Assistance on choice of investments
Human touch services Specialized agents
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Participant Services Web siteParticipant Services Web site Complete array of dynamic tools to help you plan your retirement
www.dfs.ca/participantwww.dfs.ca/participant
• Simple and complete transactional services• Information on your account• Changes to your plan
Setting Sail for the Future Education CentreSetting Sail for the Future Education CentreGuidance & support in planning your retirementGuidance & support in planning your retirement
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Enrolment kit Setting Sail for the Future newsletter Statement Investment Info bulletin
Setting Sail for the Future Education CentreSetting Sail for the Future Education CentreGuidance & support in planning your retirementGuidance & support in planning your retirement
Communication tools for participants Communication tools for participants
• Targeted• Integrated• User-friendly
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Participant StatementParticipant Statement
Account summaryAccount summary
Asset allocationAsset allocation
Investment directionsInvestment directions
Personalized rate of returnPersonalized rate of return
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Review your Action PlanReview your Action Plan
Life stages:Life stages: Joining the labour force
Career and family Mid-life
Life events:Life events: Career/job changes Marriage Birth Death