Retirement Planning Information Session. March 2012

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1 Retirement Planning Information Session March 2012

2 Today s meeting The Retirement Savings Program Why Save for retirement Benefits of a group plan Investment Options Managing investment risk Retirement Income Additional services and support Next steps

3 Why Plan?

4 Government benefits

5 Old age security Paid from age 65 Based on length of time in Canada Benefit max. $540/month* and $6,481/year for 2012 Indexing reviewed quarterly Payment reduced above $67,668 per person per year Income tested * average monthly $498

6 Canada Pension Plan Established January 1966 Contributions from age 18 to retirement or age 70 Normal retirement age 65 Maximum benefit in $987*/month or $11,844/year Can income split with spouse if both age 60 Indexed every January * Average CPP payment $512 monthly

7 Canada Pension Plan (CPP) CPP will be changing! Increased reduction for early pension Increased bonus for late pension More opportunity to contribute Longer drop-out period

8 For Additional CPP & OAS Information Service Canada: (English) (Français)

9 Understanding investments

10 What kind of investor are you?

11 Markets from Dec 1996 to Dec 2011

12 Index Returns Annualized ending Dec 31, 2011 YTD 1 YR 2 YR 3 YR 4 YR 5 YR S&P/TSX (Canada) -8.71% -8.71% 3.62% 13.18% -0.72% 1.30% S&P 500 ($C) 4.41% 4.41% 6.85% 7.26% -0.93% -2.93% NASDAQ ($C) 0.41% 0.41% 5.62% 11.11% 0.27% -1.20% MSCI EAFE ($C) (NET) % % -4.09% 1.19% -7.66% -7.28% DEX Universe (Bonds) 9.67% 9.67% 8.20% 7.26% 7.05% 6.37%

13 S&P/TSX Sector Returns December 31, 2011 SECTOR WEIGHT 3 MONTHS 1 YR Energy Materials Industrials Consumer Discretionary Consumer Staples Health Care Financials Information Technology Telecom Services Utilities

14 S&P 500 (C$) Returns December 31, 2011 SECTOR WEIGHT 3 MONTHS 1 YR Energy Materials Industrials Consumer Discretionary Consumer Staples Health Care Financials Information Technology Telecom Services Utilities

15 Benefits of your Group Plan The Retirement Savings program provides: Employer contributions! Lower investment management fees (IMF s) Customized services & support

16 What kind of investor are you?

17 What kind of investor are you? 16 questions to help you determine your current risk profile 10 8

18 What kind of investor are you? Investment personality questionnaire Conservative investor Moderate investor Balanced investor Advanced investor Aggressive investor Fixed income Foreign equity Canadian equity Balanced Special equity

19 Continuum Portfolios Asset Allocation Funds Conservative Moderate Balanced Advanced Aggressive Equity: 25% Fixed income: 75% Equity: 40% Fixed income: 60% Equity: 60% Fixed Income: 40% Equity: 80% Fixed income: 20% Equity: 100%

20 Continuum Fund returns versus benchmarks Five-year gross annualized returns as of December 31, Continuum Fund return Benchmark return* Conservative Moderate Balanced Advanced Aggressive Fund benchmark: Conservative 15% S&P/TSX Composite Index, 10% MSCI World, 75% DEX Universe Moderate 24% S&P/TSX Composite Index, 16% MSCI World, 60% DEX Universe Balanced 36% S&P/TSX Composite Index, 24% MSCI World, 40% DEX Universe Advanced 48% S&P/TSX Composite Index, 32% MSCI World, 20% DEX Universe Aggressive 60% S&P/TSX Composite Index, 40% MSCI World

21 Continuum Fund risk versus benchmarks Five-year average standard deviation as of December 31, Continuum Fund risk Benchmark risk* Conservative Moderate Balanced Advanced Aggressive Fund benchmark: Conservative Moderate Balanced Advanced Aggressive 15% S&P/TSX Composite Index, 10% MSCI World, 75% DEX Universe 24% S&P/TSX Composite Index, 16% MSCI World, 60% DEX Universe 36% S&P/TSX Composite Index, 24% MSCI World, 40% DEX Universe 48% S&P/TSX Composite Index, 32% MSCI World, 20% DEX Universe 60% S&P/TSX Composite Index, 40% MSCI World

22 Do you want to select your own portfolio? You need to review your fund selection Investment Menu Fund Review Fund Reports GRS Access You need to monitor and rebalance Your score may change over time The asset classes perform differently over time

23 Retirement Pathway & Income Options

24 Five years to go Are you a member of your company sponsored group plan? Are you maximizing contributions? Consider retirement budget expectations Continue to pay down debt Take time to envision your retirement Re-evaluate your investment strategy and consider more conservative investments

25 Three years to go Re-evaluate your lifestyle and residence needs Track day-to-day costs Estimate future living expenses Use the Smart tools microsite Consider other sources of income: House/rental property Government benefits Part-time work Other savings Meet with your financial advisor to discuss retirement income options

26 One year to go Review your income needs Consolidate your retirement savings Estimate an emergency fund Consider other financial aspects Insurance needs Estate planning Wills/powers of attorney Complete a full financial review with your financial advisor Non-registered savings Use of residence Other income

27 Retirement Options Annuity RRSP RRIF Cash RPP Annuity LIF

28 Summary - Annuity Bought with locked-in or non locked-in funds Annuity Guaranteed payments for life or specific period No investment decisions for member or spouse Monthly payments based on: Amount of lump sum Age Interest rate at purchase Additional options chosen

29 Sample annuity quotes No. Annuity Option Estimated Monthly Annuity 1. Single life annuity with 120 payments guaranteed $ Joint life and last survivor annuity, reducing to 60%, to $ on the annuitant's death but not before 120 payments have been made Joint life and last survivor annuity, continuing in full until the death of the surviving spouse, with 120 payments guaranteed $ $ Premium amount: $100,000 Annuitant s age: 65 Co-annuitant s age: 65 Payments: monthly Account type: RRSP Source: Canada Life Quote, This quotation is based on the above information and our current rates and factors. As a result, the figures may not be identical to the amounts determined on your actual retirement.

30 The Guarantee Period EXAMPLE 1 5 year period Pmt stop Pmt start Death - annuitants Ben. Receives Pmt EXAMPLE 2 5 year period Pmt stop Pmt start Deathannuitants Ben. Receives Nothing

31 Sample annuity quotes Option Age Single life male Single life female Joint and survivor 100% Joint and survivor 60% Customized quotes can be requested through the Retirement Information Line at (Monday to Friday 8 a.m. to 8 p.m. ET) Source: Group Retirement Services; Canada-Life; This quotation is based on a premium of $100,000 RRSP funds (10 year guarantee)

32 Benefits of a life annuity No investment risks for you or your spouse Guaranteed steady income for life If annuitant dies within guarantee period, an amount is paid to the named beneficiary

33 Summary - LIF Bought with locked-in funds Life Income Fund (LIF) Variable level of income without any guarantee on payment amount Requires ongoing investment decisions Flexible payments based on: Government minimums and maximums Needs of retiree Investment performance

34 Summary - RRIF Bought with non locked-in funds Registered Retirement Income Fund (RRIF) Variable level of income without any guarantee on payment amount or duration Requires ongoing investment decisions Flexible payments based on: Government minimum withdrawal Needs of retiree Investment performance

35 Minimum payment withdrawal factors 25% Minimum percentage 20% 15% 10% 5% At age 71, the rate increases to 7.38 % 0% Age

36 Example RRIF quote Fund balance: $100,000 Start: Age 65 Rate of return: 6% Income: $643 monthly Source: Canada Life Quote, This quotation is based on the above information and our current rates and factors. As a result, the figures may not be identical to the amounts determined on your actual retirement.

37 Services and Support

38 New member Home page My plan at-a-glance Widget structure Hide/show Retirement planning tool Smart tools micro site

39 Online retirement calculator Visit and use your access ID and password to enter the site Select Plan Your Retirement Enter your information using the online calculator what if scenarios Save the information you entered

40 More questions? Refer to the Understanding your retirement income illustrations guide Call Access Line at , 5 a.m. to 5 p.m. PT, for your access ID to the website Talk to your plan s financial advisor Stuart Rowles Rowles Financial

41 Enjoy your retirement! You planned well for it

42 Questions

43 Your feedback is important Your input helps us improve the education we provide. Please be sure to complete: Plan Sponsor: Archdiocese of Vancouver Policy number: Presenter name: Amar Munjal Once complete, simply seal and give to the presenter Your responses are strictly confidential Your employer may review combined highlights of survey results from all submitted surveys, but individual survey responses are not provided Thank you for your time!

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