Sun Life Financial welcomes next steps from Finance Ministers' pensionmeeting in Charlottetown

TORONTO, June 15 /CNW/ - Sun Life Financial Inc. (TSX/NYSE: SLF) welcomes the outcome of the Finance Ministers' meeting, which wrapped up yesterday in Charlottetown.

"Sun Life applauds the Ministers for taking the next steps towards modernizing Canada's retirement savings plan system by focusing on the need to improve Canadians' access to existing programs," said Dean Connor, Chief Operating Officer. "It is encouraging to see the support shown for Canadian financial institutions in terms of how they can continue to help people prepare for retirement."

"The system needs to be enhanced so that more employers offer access to retirement savings plans for their employees. Multi-employer pension plans are an affordable and straightforward way to do this since they allow non-affiliated businesses, including the self-employed, to band together into a single plan, and thereby receive the benefits of scale through pooled savings. In addition, the Finance Ministers agreed that the work of the Task Force on Financial Literacy will be vitally important, and contribute to improvements in the retirement savings system in Canada," said Connor.

"Sun Life is committed to working with government and stakeholders in order to arrive at the best possible retirement solutions for Canadians," he added.

About Sun Life Financial

Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2010, the Sun Life Financial group of companies had total assets under management of $435 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to Editors: All figures in Canadian dollars.