Essays on State Pension System and Its Impact on Company Benefit Practices - Manulife Company in Canada Case Study

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The paper "State Pension System and Its Impact on Company Benefit Practices - Manulife Company in Canada" is a perfect example of a finance and accounting case study. Manulife Financial is based in Canada and is a global leading financial services organization, operating in Canada, the United States, and Asia. Canadians have been seeking financial advice from the company for more than 125 years now. The first Asian policy was in Shanghai in 1897 and has remained a leading financial provider with more than 50,000 employees. In the United States operating as a John Hancock in 2012 celebrated its 150th anniversary with not less than 6,300 employees (Manulife Financial 2010). Manulife has more than 75,000 employees, distribution allies, and agents.

Most clients are attracted to Manulife because of its vision and values such as honesty, consistency, and strong promising solutions on financial decisions. Their professional employees, distribution allies, and agents provide services on wealth management products and financial protection to costumers such as health insurance, life insurance, annuities, pension products, mutual funds, long-term care services, and banking products. For institutional customers worldwide the company offers asset management services, casualty retrocession, reinsurance solution, and specializing in the property (Manulife Financial 2013). Vision Manulife's vision is to be a world-leading organization by providing professional financial services to customers.

This is done by offering reliable, strong, dependable, and progressive solutions on the most important decisions pertaining to financials (Manulife Financial 2013). Values The company values are the guidelines on day-to-day activities, for instance, the manner of handling customers, stakeholders, and decision making in the company. The values are; professionalism, integrity, the real value to its customers, employer of choice, and demonstrated financial strength (Lu 2013). Professionalism The company seeks the most qualified, skilled, and specialists for various occupations for the advantage of its customers.

Their employees and agents are to be professionals in order to provide better services to the customers and another stakeholder. This is to help the company achieve its vision of becoming a world-leading financial organization (Chen 2013). Integrity The entire company’ s affairs are contacted in a fair and open manner in order to create a trust in the costumers. A Company’ s worth and honesty build customer’ s confidence who seeks its financial assistance (Lu et al 2013). Customers as the true value The core value of the company is to satisfy its customers over the world suggests Chen, 2013.

To achieve this it offers standard products and services such as sustainable values, advice, and excellent solutions to their customers to meet their demands and needs. The customers are the very essence in the company who should be prioritized before anything else. Choice of employer Lu, 2013 states that the future of Manulife rests on employee performance. Therefore, the company will retain and attract the best professionals for future progress.

This is done by supporting human resource development and superior performance reward. The company also provides post-employment benefits like pension and retiree welfare to eligible employees as encouragement. Demonstrated financial strength Manulife determines the future of its costumer’ s faith by fulfilling its financial promises made to them. It earns a good reputation through retaining the highest investment presentation outcome, a good income flow, uncompromised claims-paying capability, and consistent investment management values (Li 2013).

References

Chen H, Choi, S & Hong, Y 2013, How smooth is price discovery? Evidence from cross-listed stock trading, Journal of International Money and Finance, 32, 668-699.

Eisenbach S, Schiereck D, Trillig J & Flotow P 2013, Sustainable Project Finance, the Adoption of the Equator Principles and Shareholder Value Effects, Business Strategy and the Environment.

Gravelle T Grieder T & Lavoie S 2013, Monitoring and Assessing Risks in Canada’s Shadow Banking Sector, Financial System Review, 55.

Li H 2013, Indexed Universal Life (Doctoral dissertation, WORCESTER POLYTECHNIC INSTITUTE).

Lu M Wang K & Kweh L 2013, Intellectual capital and performance in the Chinese life insurance industry, Omega.

Manulife Financial 2013, Pensions, retrieved from <> October, 2013.

Matterson, W, (2011), From Cradle to Grave: Evolution of a superannuation fund, Milliman white paper, 1-7. Web:<> retrieved on May 26, 2013.

Retirement Advisor 2013, Company Pension Plans in Canada, retrieved from <> October, 2013.

Service Canada 2013, Canada Pension Plan (CPP), retrieved from <> October, 2013.

Speziale, R. (2010). Lessons from the successful investor: learn to invest like the successful investor. Mississauga, Ont, R. Speziale.

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