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Compass
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Press Release John Hancock Retirement Introduces New Retirement App for All Participants |
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Issued by John Hancock June 16, 2021 |
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BOSTON -- 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:
"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 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
About Manulife Investment Management 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. |
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