Life and health insurer, Industrial Alliance Insurance and Financial Services has introduced a new and innovative retirement savings statement for its group retirement plan members.

The new statement is expected to serve as a simple, easy to understand retirement planning tool, and is educational and personalized for each policyholder.

Industrial Alliance Group Savings and Retirement vice-president Renée Laflamme said a research has found that members obtain more information through visual presentations compared to technical written texts.

”The presentation of our new statement clearly makes it easier to understand, as members can see at a glance where they are with their savings and how close they are to achieving their retirement objectives," Laflamme added.

"We insisted on making our new statement accessible and user-friendly, which encourages members’ commitment toward their retirement plan.”

The company has integrated the statement with personalized messages, solutions and tips to help members learn more about retirement related issues and also use it as a financial planning tool.

Industrial Alliance Insurance and Financial Services is a provider of life insurance, health insurance, auto and home insurance, annuities, savings and retirement plans throughout Canada and US.