News October 25, 2018

October 25, 2018

A personalized pension plan to help all members save for retirement

Few things are more important to us than ensuring our members enjoy a comfortable retirement. Over the past several months, we have worked tirelessly with teams at Manulife and CIBC to offer a new and enhanced group retirement program for SIU members that is among the best in the business.

 

Coming into effect on November 1, SIU of Canada’s new group retirement program provides members with more customizable options for members at all stages of their life to plan for retirement.

 

Under the new plan, members will be able to personalize their investment that best suits their needs, including appetite for risk and how many years they have before retirement.  We will ensure there is plenty of support and education from during this process. Additionally, members will be able to contribute to their pension in addition to the annual contribution by companies negotiated by the SIU, giving them more opportunity to save for retirement years.

 

The new program also includes an exclusive group banking option with CIBC. With banking that fits your life, CIBC ensures no matter where our members are, at home or at work, it’s convenient to bank the way they want. Members will also have access to expert financial planning and advice for all life stages. Most importantly, our members will receive exclusive banking offers including free banking and preferred interest rates.

 

We are very excited to introduce this new program. We know this will help our members and their families better plan for retirement and support their financial planning needs throughout their career.

 

A video will be shared on November 1st outlining the enhanced pension program and group banking benefits If you have any questions about the benefits received by Canadian seafarers please contact your local union hall or visit www.seafarers.ca/resources