Archdiocese of Vancouver Group Retirement Program November 2016 Education meeting
Today’s discussion • What does your retirement look like? • Calculate how much you will need • Where will the money come from • Choose your investments • Join the Plan • Services and Support • GRS Access – site demo
What does your retirement look like?
Think about the retirement you want
Reality check How much is enough?
Tools to help you get started Calculate how much you’ll need www.grsaccess.com www.fcac-acfc.gc.ca/
Colleen and Ken
Monthly expenses $ 1620 $ 600 Housing
How much do you need? PAY CHEQUE 67% Average Source: Statistics Canada
What does it look like? X
Where does the money come from? • Government benefits • Group retirement and savings plan • Personal savings
Why plan? 2016 Monthly Benefit at age 65 The amounts shown are the maximums. Not everyone will receive the maximum amount. Payment depends on your work history, marital status and more. Maximum Old age security 3 $ 578 1 Canada Pension Plan $1,092 2 Potential monthly total $ 1,670 1 Basic benefit effective Oct 1/16 ( reviewed quarterly and revised as required to reflect cost of living) 2 Benefit effective Jan. 1/16 (indexed annually) 3 Benefit (claw back) repayment income threshold ( effective 2017) based on 2016 net income = $73,756 Source: www.servicecanada.gc.ca (1-800-277-9914)
Service Canada www.servicecanada.gc.ca
Why join your Group Pension Plan?
Your group retirement and savings plan The best tool for your savings opportunities • It’s convenient • It’s like paying yourself first • It helps you meet your goals for the future
Get started
It’s never too early Put time on your side I have I have I can’t a growing kids in save now family college
Start soon Extra ten years of savings $200,960 more $8,039 more
Payroll deductions $4,083 Gross monthly salary Assumes 22 per cent tax rate. This example is for illustrative purposes only. Situations may vary according to specific circumstances. Assumes 22 per cent tax rate. This example is for illustrative purposes only. Situations may vary according to specific circumstances.
Choose your investments
Investment approach 1. Low Touch: Portfolio Target Risk Funds 2. High Touch: Build your own portfolio 21
Who should consider Portfolio Target Risk Funds? • The solution to many concerns • Overwhelmed by investment choices – select one fund • No time, little investment knowledge • Experts do the work so you don’t have to worry about volatile markets • Fund matches your risk tolerance
Low touch Approach – Target Risk Funds Strategic asset mix of target risk asset allocation funds Equities versus fixed income Expected return Fixed income/Equities 99-1557R Expected risk
Find your investment type Step 1 Complete the Investment personality questionnaire. Sign in to www.grsaccess.com and Use your enrolment booklet launch the Plan your retirement tool or a stand-alone brochure OR
Match a Portfolio fund with your investment type Step 2 Select a Portfolio fund • The five funds are modelled after five investor types. • Using the Investment personality questionnaire, match your score to a Portfolio fund. For example: If your score is You are a The corresponding fund is between 136-164 Balanced investor Balanced Portfolio Fund
Balanced Portfolio Fund Your Investment personality questionnaire score: 136 to 164 Who it’s for Fund asset mix Investors who want a longer-term balance between growth and income at reduced volatility levels. Underlying funds Canadian Bond (Portico) 15.0% Commercial Mortgage (Portico) 5.0% Global Equity (Setanta) 10.0% Mid Cap Canada (GWLIM) 4.0% Real Estate (GWLIM) 10.0% U.S. Value Equity (London Capital) 4.0% Global Value (Mackenzie) 9.0% International Opportunity (JPMorgan) 4.0% Canadian Equity (GWLIM) 9.0% International Bond (Brandywine) 4.0% Bond (Portico) 7.0% American Growth (AGF) 3.0% Dividend (GWLIM) 7.0% Corporate Bond (Portico) 3.0% Bond (Mackenzie) 6.0% The funds are continually reviewed and periodically rebalanced. As a result, the target asset mix, the underlying funds and the number of underlying funds may change.
Sync your plan to your life Adjust your Portfolio fund to your changing stages of life
Hands on approach- Build your own portfolio Step one: • Complete the investment personality questionnaire – Review the suggested asset mix Step two: • Make your fund choices – Fund Review – Fund Reports Step three: • You need to monitor and rebalance – Your score may change over time – The asset classes perform differently over time – Rebalance if necessary
JOIN!
Services and support www.youtube.com/GreatWestGRS Client Service Centre 1-800-724-3402 www.grsaccess.com Semi annual statements www.smartpathnow.com
Visit GRS Access 2775173 Wfib3KE5 31
Plan Your Retirement Tool • Choose how to set a retirement income goal • Use a percentage of pre-retirement income or • Choose from five sample lifestyle budgets
Check back often
SmartPATHnow.com
Don’t wait
Your Feedback is Important! Your input helps us improve the education we provide Plan Sponsor: Archdiocese of Vancouver Policy number: 35169 Presenter name: Kim Pilley Thank you for your time
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