January 5, 2021

Plan sponsors and plan members to benefit from Canada Life's long history of helping Canadian businesses and their employees with their group retirement savings plans.

Toronto, ON, January 5, 2021. . . The Toronto-Dominion Bank ("TD") (TSX and NYSE: TD) and The Canada Life Assurance Company (“Canada Life”) today announced that TD will transition its TD Future Builder customers to Canada Life on March 19, 2021. The TD Future Builder RSP program, managed by TD Asset Management Inc. ("TDAM"), is comprised of approximately 1,800 group plans and 24,000 plan members. 

“We believe Canada Life will deliver a strong group retirement and savings experience that supports the needs of TD Future Builder business customers and their employees, while allowing TDAM to focus on its core business of bringing innovative thinking and solutions to investors,” said Bruce Cooper, CEO, TD Asset Management and SVP, TD Bank Group.

“We look forward to welcoming TD Future Builder customers to Canada Life,” said Michael Henderson, Vice-President, Plan Members as Customers, Canada Life. “For more than 170 years, Canadians have trusted us to provide for their financial security needs and to deliver on the promises we have made. As the new group retirement savings plan provider for TD Future Builder clients, Canada Life is committed to delivering a personalized, comprehensive financial wellness program that will build upon the group retirement savings program they value from TD. TD Future Builder clients will benefit from our online platforms, digital innovations, robust financial literacy programs, and one-on-one support, that deliver a financial wellness experience that exceeds expectations.”

About The Canada Life Assurance Company

Canada Life is a leading insurance, wealth management and benefits provider focused on improving the financial, physical and mental well-being of Canadians. For more than 170 years, individuals, families and business owners across Canada have trusted us to provide sound guidance and deliver on the promises we’ve made. Today, we proudly serve more than 13 million customer relationships from coast to coast to coast.

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About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (“TD” or the “Bank”). TD is the sixth largest bank in North America by branches and serves over 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America’s Most Convenient Bank^®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world’s leading online financial services firms, with more than 14 million active online and mobile customers. TD had CDN$1.7 trillion in assets on October 31, 2020. The Toronto-Dominion Bank trades under the symbol “TD” on the Toronto and New York Stock Exchanges.

For more information:

Liz Kulyk
Assistant Vice-President, Media & Public Affairs
The Canada Life Assurance Company
204-391-8515
Media.Relations@canadalife.com

Julie Bellissimo
Senior Manager, Corporate and Public Affairs
TD Bank Group
416-965-5050
Julie.Bellissimo@td.com