Industrial Alliance has launched of SecurOption – Lifetime Retirement Income, a new guaranteed lifetime retirement income option that is added to its group retirement savings plans.
SecurOption is offered in the company’s group RRSPs and in its deferred profit sharing plans (DPSPs).
Members 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,” says Renée Laflamme, Industrial Alliance’s vice-president, group savings and retirement. “More and more, our clients are looking to increase the guaranteed portion of their retirement income.”