Workplace Solutions

H e lp ing pe ople ach ie ve life tim e financial se curity

Employer challenges

• Incre ase d num be r of part-tim e , te m porary and contract

e m ploye e s

• O ve r-re liance on com pany plans

• Re spons ib ility to e d ucate

• Incre as ing costs of provid ing be ne fits

• C halle nge be com e s how to provid e m ore at low cost

Employee challenges• Like e m ploye rs , the re are also challe nge s that

e m ploye e s face

• Many of the se challe nge s are re lative ly ne w; the

ge ne ration prior to us like ly d id n’t e xpe rie nce the se

challe nge s

Life Expectancy Male Age 65

12.5

13.5

14.5

15.5

16.5

1920 1940 1960 1980 2000

Ye

ars

Employee challenges:

Increasing life expectancy

General Population mortality; Statistics Canada

Source : HRDC, Statistics Canada, Florida State University, McKinsey analysis

Employer plans

Government

Age

Employer plans

Government

Growing life

expectancy

Shrinking guaranteed

income

PastPast FutureFuture

65 75 85 65 75 85

Employee challenges:

Shifting the retirement savings burden

Employee challenges:

Shifting the healthcare cost burden

Source : CIHI Spending Database; Statistics Canada; McKinsey Analysis

9%

34%

57%

Individual

Government

Employer 9%

70%

21%

2005 2015

Employee challenges

• Inse curity

• H e ighte ne d aware ne ss of e arly re tire m e nt

• More com ple x group plans and d ifficult inve stm e nt

choice s

• Ne e d for inform ation without pre ssure and

conve nie ntly offe re d

Canadian statistics• 1 /3 of C anad ians worry the y will outlive the ir bank accounts . 1

• 30 ye ar old s are m ore conce rne d about saving for re tire m e nt

than pre vious ge ne rations… but s till want to re tire be fore age

65. 2

• 60% surve ye d said that the m ost im portant fe ature the ir

com pany could offe r in m anaging pe ns ion as se ts would be

acce ss to profe ss ional financial ad vice . 2

• O nly 25% of C anad ians have a form al, writte n financial plan. 3

(1 ) D e cim a Re se arch Poll, 2007

(2) Roge rs H e althcare and F inancial S e rvice s G roup, 2007

(3) Ipsos -R e id , 2006

Percent of those who answered significant/some advice needed

Choos ing inves tment products

Developing an overall plan

Determining as s et allocation

Contingency planning

Choos ing guaranteed income products

Choos ing ins urance products

Source: McKinsey Affluent Consumer Retirement Survey; Investor Economics

Planning for tax-related is s ues

72

71

70

64

59

57

43

The se sh ifts have cre ate d an e ve n

gre ate r ne e d for m ore com pre he ns ive

ad vice .

Workplace S olutions will he lp your

e m ploye e s ge t th is ad vice .

WPS services

• 1 7 financial inform ation s e m inars

• O ne -on-one financial consulting

• Trans ition se rvice s

• Re tire m e nt se rvice s

• E xe cutive s e rvice s

#1 - Seminars

• pre se nte d by a profe s s ional, traine d and lice nse d ad visor

• m ost e m ploye rs launch with “Bu ild ing a financial road m ap”

s e m inar

• one se m inar top ic pe r quarte r

• one hour in le ngth

• e d ucational - no prod uct, no com pany

• fe e d back form s

• ad vance d s ign-up re qu ire d (sugge st m in im um of 1 0 to m axim um

of 25 atte nd e e s )

#2 – One-on-one consultations

At work or off-s ite :

• as a re sult of atte nd ing a s e m inar (fe e d back form )

• ad hoc (FAX form , e m ail te m plate )

• re gularly s che d ule d in the workplace

Proce ss for one -on-one s d e pe nd s on e m ploye e

ne e d s :

• spe cific prod uct ne e d (i.e . m ortgage insurance )

• one aspe ct of the ir financial plan (i.e . re tire m e nt planning)

• com ple te financial ne e d s analys is

– how e m ploye e be ne fits , gove rnm e nt be ne fits and pe rsonal

plans fit toge the r

PATH financial needs analysis

• com ple tion of bookle t

• curre nt s tate of affairs vs . goals

• re com m e nd ation on how to ad d re ss gaps

• d e taile d pe rsonal re port

#3 – Transition services

• Inform ation on financial aspe cts of trans itioning such

as :

– continu ing cove rage for life , he alth/d e ntal, e tc.

– trans itioning group pe ns ion / R R S P m one y

– options to cons id e r with s e ve rance package s

• “Trans ition and change ” se m inar

• O ne -on-one consultations can be re que ste d by:

– E m ail te m plate or FAX form

#4 - Retirement services

• Inform ation on financial aspe cts of re tire m e nt such

as :

– continu ing cove rage for life , he alth/d e ntal, e tc.

– trans itioning group pe ns ion / R R S P m one y

– e d ucation on R R IFs , LIF s , payout annu itie s , e tc.

• “Now that you ’re re tiring” se m inar for e m ploye e s 50+

• O ne -on-one consultations can be re que ste d by:

– E m ail te m plate or FAX form

#5 - Executive services

• C onsultation with tax, e state and bus ine ss planning

e xpe rts

• Fle xib ility: at work or at hom e

• In-d e pth re ports for com ple x planning s ituations

• Re ports and s trate gie s for im ple m e ntation

Summary of services

• 1 7 financial inform ation s e m inars

• O ne -on-one financial consulting

• Trans ition se rvice s

• Re tire m e nt se rvice s

• E xe cutive s e rvice s

Value to employees

• Profe ss ional ad vice and inform ation

• Non-thre ate ning, fre e d om to choose

• No cost, no obligation

• Available to all e m ploye e s , includ ing part-tim e ,

contract, te m porary, e tc.

• O pportunity to be proactive – not re active

Value to you

• E nhance s e m ploye r/e m ploye e re lationsh ip

• U nique e m ploye e program that he lps pe ople

und e rstand the b igge r p icture of how the ir group

plans and pe rsonal plans fit toge the r

• E nhance d appre ciation and und e rstand ing of

e m ploye r be ne fits

• Acce ss to corporate in itiative with nation-wid e

d e live ry

Next steps…You d e cid e :

• which of the s e rvice s you want to offe r

• be st tim e to launch program

I will partne r with you on:

• logis tics (d ate , tim e , s e m inar top ic, e tc.)

• locations

• fe e d back

• re com m e nd ations

• com m unication

– e m ail announce m e nt/intrane t m e ssage

– payroll s tuffe r

– poste rs