Laurentian Bank Offers a Range of Adapted Services to Help Plan for
Retirement

MONTREAL, Feb. 25 /CNW Telbec/ - In Québec, 73%(1) of non-retirees have not set specific objectives with respect to the revenue they wish to have upon their retirement, and 48% of those individuals have not sought out any information or financial advice pertaining to their future retirement. Furthermore, 66% of non-retirees aged 40 and over remain unaware of the annual revenues they will be receiving when they retire. With the aging of the population and increasing life expectancy, planning for retirement has become a thing of prime concern. In order to help savers prepare financially for their retirement. Laurentian Bank is offering a range of adapted services.

Retirement Forecasting

Offered free of charge by a qualified advisor, retirement forecasting allows savers to determine the amount they need to invest today in order to achieve their specific retirement objectives. The advisor prepares an itinerary to be followed, taking such factors into account as existing investments, revenues, inflation, as well as the pace of life that the saver wishes to maintain after retiring. This solution is aimed at anyone who would like to obtain an action plan so as to enjoy a certain peace of mind and better control over their financial future. It is always preferable to put these strategies into place as early as possible to assure that retirement objectives are met.

Retirement Planning

Generally aimed at savers with greater assets and who envisage retiring in the short- or medium-term, retirement planning is a more detailed and strategic process because it proposes various scenarios that take an individual's or household's overall financial situation into account. Offered by a financial planner, retirement planning encompasses all the assets and liabilities of the saver and takes their tax situation into consideration so as to provide them with a complete action plan. By meeting with a Laurentian Bank financial planning expert, investors will be in a better position to understand all aspects of their personalized action plan because it will be adapted to their specific level of knowledge of personal finances. In response to the aging of the population and the increased demand in the area of retirement planning, Laurentian Bank has hired 20 new financial planners over the past few months to be able to adequately serve the needs of its clientele.

Taking Advantage of These Services

To take advantage of what the Bank has to offer, it is important to first determine what type of service is most appropriate based on the saver's age and financial situation. Then, it is simply a matter of contacting their Laurentian Bank branch to arrange a meeting with an advisor or financial planner. During the meeting, savers must have all pertinent documents on hand, such as their Canada Revenue Agency notice of assessment, their statement of participation in the Québec Pension Plan, along with all investment and pension fund statements, if applicable. For individuals with greater assets, all documents concerning their holdings, liabilities and tax situation must be furnished in order to be able to prepare an overall portrait of their position.

About Laurentian Bank

Laurentian Bank of Canada is a banking institution operating across Canada and offering its clients diversified financial services. Differentiating itself through excellence in service, as well as through its simplicity and proximity, the Bank serves individual consumers and small and medium-sized businesses. The Bank also offers its products to a wide network of independent financial intermediaries through B2B Trust, as well as full-service brokerage solutions through Laurentian Bank Securities.

Laurentian Bank is well established in the Province of Quebec, operating the third-largest retail branch network. Elsewhere throughout Canada, it operates in specific market segments where it holds an enviable position. Laurentian Bank of Canada has more than $22 billion in balance sheet assets and more than $14 billion in assets under administration. Founded in 1846, the Bank employs more than 3,500 people.

    
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    (1) Survey on the attitudes and behaviours of the Québec population with
        respect to financial planning for retirement conducted by SOM and
        released in June 2008.
    

For further information: Mary-Claude Tardif, Public Relations Advisor, [phone], extension 4695, [email protected]