From accumulation through decumulation, its distinctive strategy accompanies investors through every step of their retirement planning journey.
“The challenge of turning financial assets into lasting retirement income is considerable and only growing larger as fewer Canadians have defined benefit pension plans through their employers,” Fraser Stark, president of Purpose’s Longevity Retirement Platform, said.
“Purpose Investments built Longevity with the idea of achieving outcomes similar to a defined benefit plan but democratized so that it’s accessible to everyone. Today marks an exciting milestone for us, as through our partnership with LifeWorks, we’re excited to bring this innovation to even more people,” he added.
Due to a recent acquisition, LifeWorks, a fully owned subsidiary of TELUS, is now a part of TELUS Health. They are a pioneer in developing and implementing wellness policies, including retirement programs, and are one of Canada’s biggest record-keepers.
Idan Shlesinger, executive vice president and president, Retirement & Financial Solutions, said: “Longevity protection is one of the toughest challenges for defined contribution pension plans to solve.”
