(November 9 – 10:55 ET) – Sun Life Financial Group Retirement Services is introducing a new online service centre to make it easy for employees leaving their company to transfer out of their group retirement savings plan.

The Internet-based service provides terminated members of company- sponsored group retirement plans (such as Defined Contribution Plans and Group RRSPs) with a one-stop service centre where they can find information about the options available to them and transfer their retirement savings out of their group plan and into separate investments.

In addition to information on each of these options, the service centre also includes fund information and general financial planning information. Once employees have decided on where to transfer their investments, they can facilitate transfer instructions online with a simple click of a mouse.

“When an employee leaves a company, for whatever reason, it’s never an easy time. And the paperwork normally involved in transferring out of a group retirement plan doesn’t make it easy for either the plan member or the plan sponsor . Our online feature, ‘Leaving the Plan’, helps both the plan member and the plan sponsor by making this a self-serve, online process. The plan sponsor is relieved of the administrative burden and the plan member can work through these decisions on his own from the privacy of his own PC,” said Cathy Honor, vice president, group retirement services.
-IE Staff