Industrial Alliance Insurance and Financial Services Inc. has launched a new financial planning tool for members of its group retirement savings plans.

The Your Retirement Tracker tool breaks new ground because it gives members a simple and clear analysis of their financial situation for the amounts accumulated with Industrial Alliance in their group retirement plan, and for the savings accumulated outside of the plan, including public pension plans.

“Even if you regularly contribute to a retirement plan with your employer, it’s hard to know if your savings will meet your retirement needs,” says Lucie Lachance, director, actuarial and marketing services, group pensions.

“Industrial Alliance simplifies the process by supplying its members with a projection of their retirement income and personalized suggestions to reach their retirement objectives.”

The company says the Your Retirement Tracker proves equally useful for plan administrators because it helps them meet their fiduciary responsibilities.

To comment on this story, email craig.sebastiano@rci.rogers.com.

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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