My65+, the first retirement plan designed for Canadians earning less than $50,000 per year
SEIU Healthcare announced the first retirement plan aimed at the needs of modest earning Canadians. The My65+ plan is designed to be low-fee, portable, and structured to preserve government benefits.
“We asked our members what their number one challenge was, and the resounding answer we heard was retirement security,” said Sharleen Stewart, President, SEIU Healthcare. “At SEIU Healthcare, we firmly believe that everyone deserves to retire with dignity, including the millions of Canadians who we know stretch their dollars to go as far as possible, every single day.”
Starting July 1, 2017, My65+ will be open to SEIU Healthcare members and their family members.
Facts about My65+
- Designed for working Canadians with no workplace pension earning less than $50,000 per year
- Low, transparent fees
- Portable – stays with the member from job to job and into retirement
- Structured to preserve government benefits in retirement, allowing members to keep their Guaranteed Income Supplement
- Open to SEIU Healthcare members and their families
- Contributions can start as low as $25 a month
- The plan can provide 3-4 times more retirement value for money than a typical RRSP
- More information about My65+ can be found at my65plus.ca
“Retirement plans and products available today do not serve modest earning workers well,” said Stewart. “We have created My65+ to address the financial realities and concerns of our members and many other hardworking Canadians.”
ABOUT SEIU HEALTHCARE
SEIU Healthcare represents more than 55,000 healthcare and community service workers across Ontario. The union’s members work in hospitals, home care, nursing and retirement homes, and community services throughout the province. SEIU Healthcare has a strong track record of improving wages, benefits and working conditions for healthcare workers, supporting the training and development needs of its members, and strengthening standards in the management and delivery of patient and client care. www.seiuhealthcare.ca