T. Rowe Price announced the launch of its first target date portfolios for Canadians. The T. Rowe Price Retirement Date Series is built for Canadians, while applying a similar design approach and asset allocation principles as the firm's target date offerings globally. The T. Rowe Price Retirement Date Series is now available through Canada Life, a leading insurance, wealth management, and benefits provider.

Canada Life has added the series to its Group Retirement Services core platform. A recent survey found that the two most frequently reported future financial concerns of Canadians over age 50 are the rising cost of living (70%) and running out of money (46%)1. The T. Rowe Price Retirement Date Series is designed to manage longevity risk and sustain purchasing power through retirement by: Balancing the need for strong long-term returns against appropriate levels of volatility throughout the lifecycle of the Canadian plan member. Featuring a glide path that extends for 30 years past the individual's targeted retirement date, also known as a "through retirement" glide path.

Blending T. Rowe Price's active management and security selection, with passive investments, which allows for a reduced fee profile. Factoring in distinctive market dynamics and Canadian demographic data, including life expectancy, savings rates, and lifetime growth in earnings. The series is managed by T. Rowe Price's target date portfolio management team, including Wyatt Lee, head of Target Date Strategies, Kim DeDominicis, and Andrew Jacobs van Merlen.

Lee has 27 years of investment expertise, DeDominicis has 25 years, and Jacobs van Merlen has 21 years. T. Rowe Price has been a pioneer in target date portfolios for over 20 years. With a history of leadership in multi-asset investing spanning more than 30 years, the firm has grown to become the largest provider of actively managed target date solutions globally2.

Building a target date portfolio specifically for Canada was a natural and logical progression for T. Rowe Price's target date franchise.