The Canada Life Assurance Co. is absorbing the Toronto-Dominion Bank’s TD Future Builders retirement savings plan program members as of March 19.

“We believe Canada Life will deliver a strong group retirement and savings experience that supports the needs of TD Future Builder business customers and their employees, while allowing [Toronto-Dominion Asset Management Inc.] to focus on its core business of bringing innovative thinking and solutions to investors,” said Bruce Cooper, chief executive officer of TDAM and senior vice-president of TD Bank Group, in a press release.

The TD Future Builder RSP program, managed by TDAM, is comprised of approximately 1,800 group plans and 24,000 plan members.

“We look forward to welcoming TD Future Builder customers to Canada Life,” said Michael Henderson, vice-president of plan members as customers for Canada Life, in the release. “As the new group retirement savings plan provider for TD Future Builder clients, Canada Life is committed to delivering a personalized, comprehensive financial wellness program that will build upon the group retirement savings program they value from TD.”