TORONTO, May 12, 2010 The first wave of boomers turns 65 in 2011 and with this, a significant portion of the population will need advice, resources and information to help plan, transition and thrive in retirement. To support these needs, RBC today announced a research partnership with the University of Waterloo, one of Canada's leading post-secondary educational institutions, which includes the creation of the RBC Your Future By Design Retirement Research Centre at the University of Waterloo.
"We believe more research is required to understand the issues boomers will face so that we can provide relevant advice and solutions to better prepare them to live well in retirement," said Ashif Ratanshi, senior vice-president and head, Branch Investments, Deposits and Direct Investing, RBC. "With boomers nearing and entering their retirement years, this strategic alliance with one of Canada's leading universities will provide Canadian boomers with relevant information and innovative ideas to enable their retirement planning and retirement living."
The RBC Your Future By Design Retirement Research Centre at the University of Waterloo combines the University's insights and expertise on healthy aging with RBC's expertise in providing Canadians with financial advice and solutions to help them succeed. The new Centre will focus on research related to areas that influence quality of life in retirement including health, leisure, wellness, lifestyle, financial, economic, science, arts and technology.
"This collaborative approach is the first of its kind where our innovative academic research will assist the financial services industry in the development of practical solutions and advice for retirement planning," said Roger Mannell, professor and dean, faculty of applied health sciences, University of Waterloo. "We are pleased to collaborate with Royal Bank of Canada, one of Canada's leading financial institutions, to inform, engage and empower Canadian boomers throughout this significant period in their lives."
In addition to the new Centre, RBC is creating an undergraduate grant program called the RBC Your Future By Design Retirement Research Undergraduate Fellowship at the University of Waterloo. This fellowship is designed to develop expertise in full-time undergraduates interested in retirement and aging as it impacts Canadians, businesses, institutions and systems, and advance the understanding of retirement from health, financial, social, leisure and psychological and health perspectives.
For more information about the RBC Your Future By Design Retirement Research Centre at the University of Waterloo, visit www.rbc.com/yourfuture.
About the University of Waterloo
The University of Waterloo, located at the heart of Canada's Technology Triangle, is one of Canada's leading comprehensive universities. Waterloo is home to 30,000 full- and part-time undergraduate and graduate students who are dedicated to making the future better and brighter. Waterloo, known for the largest post- secondary co-operative education program in the world, supports enterprising partnerships in learning, research and discovery. For more information about Waterloo, go to www.uwaterloo.ca.
The RBC Your Future By Design Retirement Research Centre at the University of Waterloo will focus on research related to areas that influence quality of life in retirement including health, leisure, wellness, lifestyle, financial, economic, science, arts and technology. The Centre will complement the distinctive RBC approach that helps clients identify, plan, and realize their goals for retirement. With the guidance of RBC financial planners and investment and retirement planners, Your Future By Design helps clients create a blueprint for a successful lifestyle and financial plan for retirement based on what is truly important to them in key areas in life, including family, health, home, lifestyle, work/business, mind and spirit, and legacy. To find out more about how RBC can help build a blueprint for the future, visit www.rbc.com/yourfuture or call 1-866-335-4055.
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Suzanne Willers, RBC, 416-974-2727
University of Waterloo 519-888-4567, ext. 38345