Sun Life focuses on personalized advice and innovation in retirement planning. Monitoring retirement plans with benefits and pensions
Eric Monteiro explains how Sun Life engages customers through digital tools to improve financial security.
Eric Monteiro, Sun Life’s senior vice president of group retirement services, outlined the company’s core mission of helping customers achieve financial security in the Benefits and Pension Monitor article.
Monteiro detailed three key elements of Sun Life’s strategy: engagement, simplified planning, and personalized advice.
Monteiro explained that Sun Life strengthens engagement by using digital tools that provide timely reminders to clients and drive important actions, such as maximizing employer contributions.
Mr. Monteiro emphasized that the One Sun Financial Plan is a vital tool that increases customers’ financial confidence and contributions, leading to growth in retirement account balances.
She said: “People who plan their finances feel more secure about their financial future. In fact, they contribute more and have larger balances. ”
The third element of Sun Life’s strategy focuses on personalized advice through its 360 Plan Advice service, where clients receive customized financial advice from licensed consultants.
Monteiro explained that the service can meet a variety of needs, from simple coaching for junior employees to more comprehensive advice for employees nearing retirement.
“Our 360 Plan Advice provides personalized, in-depth consultation tailored to each client’s unique circumstances,” he added.
Innovation connects these strategies. Mr. Monteiro highlighted three methods Sun Life employs to remain innovative. Customer feedback through research, monitoring global trends in markets such as Australia, the UK and the US, and an agile test-and-learn approach.
Monteiro is proud of the AI-powered One Sun Financial Plan, calling it a key innovation in his company’s services.
Monteiro emphasized the importance of retirement planning, including contributions and employer matching features.
“We aim to engage our members at every stage of their financial journey and provide them with the tools and advice they need, when they need it,” he said. He also pointed out that retirement planning extends beyond savings to how individuals spend their retirement savings.
Monteiro concludes: “Flexibility and choice are key when it comes to decumulation. Retirement is different for everyone.”
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