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CARP Announces Partnership with Purpose Investments and Recommends its Longevity Pension Fund as an Effective Retirement Solution

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CARP Announces Partnership with Purpose Investments and Recommends its Longevity Pension Fund as an Effective Retirement Solution

TORONTO, Aug. 9, 2021 (GLOBE NEWSWIRE) – CARP, Canada’s largest advocacy association for Canadians as we age, announces its partnership with Purpose Investments, the asset management company that launched the Longevity pension fund (the Fund), the world’s first lifetime income mutual fund, in June 2021.

The Longevity Pension Fund, which was designed to provide Canadians 65 and older with monthly income distributions for the rest of their lives, carries the trust Recommended CARP Seal. Together with the association, the members of CARP get an exclusive 15 percent reduction in management fees when they invest in the Longevity Pension Fund. CARP will educate members on how the Longevity Pension Fund provides lifetime income to Canadian retirees through ZoomerMedia’s television, radio, print and digital channels, including VisionTV, The New Classical FM, Zoomer Radio, and Zoomer Magazine.

“For years, I have spoken and written about the Great Global Demographic Change, as populations age and life expectancy increases around the world. In Canada, there is a greater than 40 percent chance that someone turning 65 will live past 90, posing a real risk that Canadians, especially those without defined benefit pensions, may live longer than they are. that enable your retirement savings. “said Moses Znaimer, president and president of CARP and founder, president and CEO of ZoomerMedia.” So after carefully studying the market, we discovered Purpose’s thoughtful approach to long-term financial planning. I think our members will be eager to learn how the Longevity Pension Fund is a flexible lifetime income solution for Canadian retirees, and they may have fun competing in the longevity lottery with other Fund members. “

The Longevity Pension Fund is the first lifetime income mutual fund to incorporate the combination of longevity risks to provide lifetime income to Canadian retirees. Similar in design to a defined benefit pension, the fund distinguishes itself from life annuities by giving investors the flexibility to redeem * at any time.

Anyone between the ages of 18 and 76 can invest in the Longevity Pension Fund. The Accumulation Class of the Fund is designed for investors under the age of 65 who are saving for retirement, while the Accumulation Class provides lifetime income for investors aged 65 and over.

The Decumulation Class groups investors of similar ages into cohorts, with payment distribution fees managed at 6.15 percent for 65-year-olds. The Fund’s innovative longevity risk pool structure is designed so that accounting rates increase over time. ** The longer you live, the more financially beneficial it will be, as the market returns of investors who leave the Fund, either voluntarily or by death, remain in the fund, creating a unique pool structure that allows income for life for the remaining investors.

“With Longevity, our goal is to solve the problem of income instability for retirees by providing a lifetime income stream so Canadians can retire with confidence and peace of mind. We are excited to learn more from CARP members about the challenges. they face in retirement. We can offer practical financial solutions to help us live in a world where more people see this stage of their life as an opportunity, not a challenge, “said Som Seif, CEO and Founder of Purpose Investments .

“The Recommended CARP The seal is the highest validation that we can give to trusted suppliers of important, even novel, products; and we make sure that the partners we incorporate Recommended CARP they are best in class and worthy of our 320,000 members. Many CARP members tell us that their greatest fear, beyond cancer, beyond Alzheimer’s, beyond their burden of debt or concern for job security, is surviving on their money. CARP will work with purpose to address this fundamental and elementary concern, ”said Bill Van Gorder, CARP’s director of advocacy.

For more information on the Fund’s mission and Purpose to help Canadians embrace retirement with lifetime income, visit: retirewithlongevity.com.

To learn more about the benefits of joining CARP, visit: carp.ca

About Purpose Investments Inc.
Purpose Investments is an asset management company with more than $ 11 billion in assets under management. Purpose has a relentless focus on client-centric innovation, offering a range of managed and quantitative investment products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services platform that is reshaping the industry by connecting and creating opportunities in asset management, wealth management and services. financial for small businesses.

For more information on the Longevity Pension Fund, contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257

About CARP
CARP is a national, nonpartisan, nonprofit organization that advocates for freedom from age discrimination, financial security, and better health care for Canadians as we age. With more than 320,000 members and 27 chapters across Canada, CARP (also known as the Canadian Association of Retirees) plays an active role in creating policies and laws that impact older Canadians. CARP enlists the voices of members to increase your influence as an effective advocate. CARP also has a unique affiliation with ZoomerMedia Limited, founded by Moses Znaimer in 2008 and a leader in speaking to and for the 45+ “Zoomer” market in Canada. ZoomerMedia’s powerful suite of media channels supports CARP’s advocacy. Most CARP members subscribe to ZOOMER magazine, watch ZoomerTelevision / VisionTV, and listen to Zoomer Radio (AM740 / 96.7FM / ZoomerRadio.ca). For more information and how to join, visit carp.ca

For more information on CARP, contact:
Leanne wright
leanne@zoomer.ca
416-886-6873

* The Longevity Pension Fund has a unique repayment structure. While most mutual funds are redeemed at their NAV, with the Longevity Pension Fund you can redeem the lesser of your unpaid principal (initial value of your investment minus any income payments you have already made) or your NAV. . Fees may apply. Review the prospectus or speak to your advisor for more details.

** Although distributions are designed to increase over time, they can go up or down. The level will be assessed periodically and will be affected by market conditions and unit redemptions (both voluntary and due to death). For people 64 and younger, the initial annual income begins in the month after you turn 65. The calculator assumes an annualized net return of 3.75%. The income payments shown are gross of taxes. Review the prospectus or speak to your advisor for more details.

Commissions, final fees, management fees, and expenses may be associated with mutual fund investments. Read the prospectus and other disclosure documents before investing. Mutual funds are not covered by Canada Deposit Insurance Corporation or any other government deposit insurer. There is no guarantee that the full amount of your investment in a fund will be returned to you. Mutual funds are not guaranteed, their values ​​change frequently, and past performance may not repeat itself. Distributions are not guaranteed and distribution levels may increase or decrease. The fund has a unique mutual fund structure. Most mutual funds are repaid at their associated net asset value (NAV). In contrast, redemptions in the fund’s decumulation class (whether voluntary or upon death) will occur at the lower of the net asset value or the initial investment amount less any distributions received.

Some statements in this communication are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend on or refer to future events or conditions, or include words such as “may”, “will”, “should”, “could”, “expect” , “Anticipate”, “pretend”, “plan”, “believe”, “estimate” or other similar expressions Statements that look forward in time or that include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. The FLS are not guarantees of future performance and, by their nature, are based on numerous assumptions. Although the FLS in this document are based on What Purpose believes to be reasonable assumptions, Purpose cannot ensure that actual results are consistent with these FLS. The reader is cautioned to consider the FLS carefully and not place undue reliance on the FLS. Unless required by applicable law, it is not assumed, and specifically denied, that there is an intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

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