Industrial Alliance is pleased to announce the launch of SecurOption - Lifetime Retirement Income, a new guaranteed lifetime retirement income option that is added to its group retirement savings plans.
SecurOption is a simple, innovative and distinctive option offered in Industrial Alliance’s group RRSPs and in its deferred profit sharing plans (DPSPs). It allows members to build a guaranteed lifetime retirement income through their group retirement savings plan contributions. They simply choose the portion of the contributions to allocate to SecurOption; deferred annuities are then purchased periodically with these contributions to provide them with ongoing guaranteed retirement benefits.
"SecurOption addresses our clients’ dire need for income security. More and more, our clients are looking to increase the guaranteed portion of their retirement income. Contributions to defined contribution pension plans are subject to market ups and downs and don’t give members the opportunity to guarantee their retirement income. So SecurOption is the missing piece of the puzzle for investors who are less risk tolerant and seek more security in their plan," says Renée Laflamme, Vice-President, Group Savings and Retirement.
The addition of SecurOption to Industrial Alliance’s offering puts the company at the forefront when it comes to group savings plans providing income security.
Further solidifying Industrial Alliance’s position as a leading service provider in Canada , this initiative shows once again that clients are the central focus at Industrial Alliance and that innovation and service are at the heart of its strategy.