BlackRock adds new 2070 fund to the LifePath® Index target date funds series

October 30, 2025

Plan sponsors may wish to consider whether this investment news has any implications for the investment options available within their plans. Sun Life Assurance Company of Canada purchases units of the funds listed below, which are established as segregated funds in accordance with the Insurance Companies Act (Canada).

No action required

You don’t have to take any action as a result of the update below. The LifePath 2070 fund will automatically be added to your line-up if you already offer the LifePath series in your plan(s).

BlackRock Asset Management Canada Limited (BlackRock) has added a new fund to the LifePath® Index target date fund series. On December 17, 2025, Sun Life will add the BlackRock LifePath® Index 2070 Target Date Segregated Fund (LifePath 2070) to the core investment platform as part of the LifePath series.

The LifePath 2070 fund will also be available in Sun Life’s Group Choices Plans.

Investment managers periodically add new longer-dated maturity funds to their target date series to match the time horizons of younger plan members. Plan members expecting to retire around the year 2070 may benefit from this new fund. The LifePath 2070 fund’s target asset mix will initially match the LifePath 2065 fund, but will diverge over time.

How will this affect you and your plan members?

You or your plan members don’t have to take any action. If you currently offer LifePath series of funds to your members, Sun Life will automatically add LifePath 2070 to your line-up on December 17, 2025.

We’ll send your members a message via email and the Sun Life Message Centre in January 2026. Before the LifePath 2070 addition, LifePath 2065 was the LifePath fund with the longest available maturity. Younger plan members might have defaulted into, or selected LifePath 2065. If they expect to retire closer to 2070, they may wish to review whether LifePath 2070 is more appropriate for them.

If the BlackRock LifePath Index target date fund series are the default investment option in your plan, and members do not make an active selection, Sun Life will automatically direct contributions into the fund that is closest to a member’s 65th birthday, without going over.  Sun Life will update the defaulting process to include the 2070 fund.

About the BlackRock LifePath Index series of target date funds

The BlackRock LifePath® Index Target Date funds series use a fund-of-funds approach to create a balanced asset mix. This means the LifePath® Funds invest in other funds, rather than directly in stocks or bonds. BlackRock invests in passive, index-replication funds, providing exposure to various asset classes.

The LifePath series is available with target maturity dates in 5-year intervals (Retirement, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060, 2065 and 2070). Members select the target date fund that most closely aligns with the year when they wish to retire. Each fund becomes more conservative as it moves closer to its maturity date. At maturity, each fund moves into the Retirement fund.

The Retirement Fund has the most conservative asset mix in the series. This fund seeks to provide income and moderate long-term growth of capital. It holds a blend of investments that investors may find appropriate for their retirement years. It invests in approximately 40% of its assets in stocks and around 60% in bonds. 

Questions?

Please contact your Sun Life Group Retirement Services representative*.

*In Quebec, registered as a Group Annuity Plans Advisor.