Canada Life taking the reins on TD group RSP program

Big Six bank's group plan business customers expected to gain from move to leading provider

Canada Life taking the reins on TD group RSP program

TD is transitioning customers of its TD Future Builder RSP program, which includes approximately 1,800 group plans and 24,000 plan members, to Canada Life.

The move, which will take place on March 19, is expected to benefit plan sponsors and plan members in TD’s program as Canada Life draws on its long history of and expertise in helping Canadian businesses and their employees with their group retirement savings plans.

“We believe Canada Life will deliver a strong group retirement and savings experience that supports the needs of TD Future Builder business customers and their employees, while allowing TDAM to focus on its core business of bringing innovative thinking and solutions to investors,” said Bruce Cooper, SVP of TD Bank Group and CEO of TD Asset Management, which has been the manager of the TD Future Builder RSP program.

“For more than 170 years, Canadians have trusted us to provide for their financial security needs and to deliver on the promises we have made,” said Michael Henderson, vice-president, Plan Members as Customers, Canada Life. “As the new group retirement savings plan provider for TD Future Builder clients, Canada Life is committed to delivering a personalized, comprehensive financial wellness program that will build upon the group retirement savings program they value from TD.”

Henderson also highlighted Canada Life’s online platforms, digital innovations, financial literacy programs, and one-on-one support as key benefits as it provides “a financial wellness experience that exceeds expectations” for the customers that will be transitioning in from TD.

“We look forward to welcoming TD Future Builder customers to Canada Life,” Henderson said.