2021 marks changes to target date funds
This new year brings changes, as 2020 target date funds have matured, and a new fund becomes available.
New 2060 fund
In March we’ll be adding the Manulife CI LifeCycle 2060 Portfolio Fund. This fund aligns most closely to the expected retirement year of anyone born in 1995, assuming a retirement age of 65.
Maturing funds
Target date funds with the year 2020 have matured.
| Maturing Fund | What will happen |
|---|---|
| Manulife Franklin LifeSmart 2020 Fund | Funds will close on March 19, 2021. Member assets and investment direction will move to the applicable retirement income fund that has an identical asset mix. |
| Manulife Retirement Date 2020 Fund | |
| Manulife MFS LifePlan Retirement 2020 Fund | |
| Manulife BlackRock LifePath Index 2020 Fund | Will remain open until the end of 2024 |
| Manulife CI LifeCycle 2020 Portfolio Fund | |
| Manulife Fidelity ClearPath Institutional 2020 Fund | Will remain open until the end of 2040 |
| Manulife Fidelity ClearPath 2020 Portfolio |
What do these changes mean?
If you have any of these maturing funds or will have the new fund added to your lineup, you don’t need to do anything. We sent you the details by email in December 2020, and plan members to whom these changes apply are getting a letter in January 2021.
For any questions, reach out to your Manulife representative.