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September 20, 2013 at 09:05 AM
Manulife has introduced a new retirement product for Canadian pre-retirees. Targeted to people between five and 15 years before retirement, RetirementPlus™ permits savings growth through equity participation, the potential to benefit from rising interest rates and the option to choose a future guaranteed income stream, all in one contract.
Specifically, in the saving stage, policyholders choose from a broad range of investment options with up to 100 percent in equity. By doing so, they can boost future income if interest rates rise.
Next is the preservation phase, in which contract holders target a secure future guaranteed income stream. Owners can move all of their assets into the preservation option or they can split those assets between the savings and preservation phases at the same time. Thirdly, in the income phase, clients elect to draw a partial or full retirement income when needed, starting as early as age 50.
RetirementPlus™ will be available starting October 28.
ING U.S. now offers R6 shares for nine of its affiliated mutual funds. The new share class is designed for defined contribution and defined benefit plans, as well as other institutional clients, such as endowments and foundations.
The R6 shares are initially available for nine funds, including the ING Small Cap Opportunities Fund, ING Mid-Cap Opportunities Fund, ING Large Cap Growth Fund, ING Large-Cap Value Fund and ING Intermediate Bond Fund. Additional funds may be added.
