TSX/NYSE/PSE: MFC SEHK: 945
BOSTON, June 16, 2021 /PRNewswire/ - John Hancock
Retirement, a company of Manulife Investment Management, announced
today the availability of a new retirement app for all
participants. The new app is fully transactional and gives
participants the ability to enroll in their plan, view account
details, make changes to the account, and use additional financial
tools on the platform that provide the participants with guidance
on their retirement saving strategies and financial priorities.
"We are really excited about the new retirement app as an easy
and secure way for participants to have access to their retirement
plan," said Sue Reibel, CEO, John
Hancock Retirement. "Participants receive individualized guidance
and education and can track their progress toward their retirement
goals at their convenience in the new app, which we believe leads
to better engagement and better outcomes."
John Hancock's most recent
Financial Stress Survey indicated that participants recognize the
need to see projections of their personalized income and expenses
in retirement, and to obtain retirement planning guidance and
investing advice.1 Having this information and control
in the palm of their hand may also decrease some of the anxiety
that can accompany planning and saving for future expenses –
including retirement. John Hancock's new retirement app enables
participants to take the following actions:
- View account details—including balance, rate of return,
account/transaction history, and investments.
- Make account changes—including contribution rate and profile
updates.
- Set goals and get projections of estimated spending and income
in retirement.
- Model saving scenarios and receive guidance to help meet
spending needs and track progress.
- Use helpful tools and resources for timely education on
personal finance and wellness topics.
"We see mobile as a key influence for investor behavior, and
research we conducted this April showed that our mobile users spend
almost 17% more time on the retirement website. When participants
can access information in a convenient format they seem to engage
for longer," said Jack Barry, head
of product development, John Hancock Retirement. "As consumers
perform more and more transactions on their phones, it's important
that they be able to do the same with their retirement plans."
About John Hancock Retirement
John Hancock Retirement
is the U.S. retirement business of Manulife Investment Management.
For nearly 50 years, we've helped people plan and invest for
retirement; today, we're one of the largest full-service providers
in the United
States.2 We take a hands-on consultative
approach based on the idea that no two plans - and no two plan
participants - are exactly alike. We partner with plan sponsors,
financial professionals, and third-party administrators to ensure
that every plan is personal to the participant and delivers
results.
As of March 31, 2021, John Hancock
serviced over 52,000 retirement plans with over 3 million
participants and over $212 billion in
AUMA.3
1. In July 2020, John
Hancock commissioned our seventh annual financial stress survey
with the respected research firm Greenwald & Associates. An
online survey of 589 workers was conducted between 7/28/20 and
8/14/20 to learn more about individual stress levels, their causes
and effects, and strategies for relief. John Hancock and Greenwald
& Associates are not affiliated, and neither is responsible for
the liabilities of the other.
|
2. "2020 Defined
Contribution Recordkeeper Survey," PLANSPONSOR, 2020.
|
3. As of March 31,
2021, John Hancock Life Insurance Company (USA) supported 47,844
plans, 1,602,710 participants, and $ 105,200,270,861.69 in AUMA.
John Hancock Life Insurance Company of New York supported 2,537
plans, 79,432 participants, and $ 6,206,383,227.41 in AUMA. John
Hancock Retirement Plan Services, LLC supported 2,189 plans,
1,416,982 participants, and $100,763,366,447.34 in AUMA.
Participant Counts reflect all active participants with a balance.
Approximate unaudited figures for John Hancock, provided on a U.S.
statutory basis.
|
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset
management segment of Manulife Financial Corporation. We draw on
more than a century of financial stewardship and the full resources
of our parent company to serve individuals, institutions, and
retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public
and private markets are strengthened by an investment footprint
that spans 17 countries and territories. We complement these
capabilities by providing access to a network of unaffiliated asset
managers from around the world. We're committed to investing
responsibly across our businesses. We develop innovative global
frameworks for sustainable investing, collaboratively engage with
companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to help
their employees plan for, save for, and live a better
retirement.
As of March 31, 2021, Manulife
Investment Management had CAD $764.1
billion (US $607.6 billion) in
assets under management and administration. Not all offerings
are available in all jurisdictions. For additional information,
please visit manulifeim.com.
John Hancock Retirement Plan Services, LLC offers administrative
or recordkeeping services to sponsors and administrators of
retirement plans. John Hancock Trust Company LLC provides trust and
custodial services to such plans.
Group annuity contracts and recordkeeping agreements are issued
by John Hancock Life Insurance Company (U.S.A.), Boston,
MA (not licensed in New
York), and John Hancock Life Insurance Company of
New York, Valhalla, New York. Product features and
availability may differ by state.
John Hancock Retirement Plan Services, LLC, John Hancock Life
Insurance Company (U.S.A.), and
John Hancock Life Insurance Company of New York each make available a platform of
investment alternatives to sponsors or administrators of retirement
plans without regard to the individualized needs of any plan.
Unless otherwise specifically stated in writing, each such company
does not, and is not undertaking to, provide impartial investment
advice or give advice in a fiduciary capacity.
Both John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance
Company of New York do business
under certain instances using the John Hancock name.
JH Enterprise is a registered trademark of John Hancock Life
Insurance Company (U.S.A.).
JH Signature is a trademark of John Hancock Life Insurance
Company (U.S.A.) and is used under
license by John Hancock Life Insurance Company of New York.
NOT FDIC INSURED. MAY LOSE VALUE. NOT BANK GUARANTEED.
© 2021 John Hancock. All rights reserved.
MGR0610211680835
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SOURCE John Hancock Retirement