The Problem

Demographics around the world are changing quickly. Over 1,000 Canadians turn 65 every day. There are now more 65-year-olds in Canada than there are children under 15. Japan is full of “centenarians”—over 80,000 of them! And Italian nonnas are living to 105 (subsisting entirely off red wine and pasta, of course). Not to mention that our 60s, 70s, and beyond are looking a lot different. There are marathons for octogenarians, and people all over are living longer, more vibrant lives.

Despite this, our retirement solutions haven’t exactly matched pace with our increasing lifespan. 50% of Canadians aged 55+ are not confident that they will have enough money to last in retirement. And it’s no surprise why. The CPP and OAS barely cover the basics, and the number of Canadians covered by a defined-benefit pension plan has steadily decreased over the past 30 years, creating a major social challenge around income security for Canadian retirees.

Our Solution

Our CEO and founder, Som Seif, wanted to fix this. We believe that people should retire their jobs, but never retire their ambition. Which is why we exist—to help people create a stable financial foundation for their life and their goals when they reach their post-work years.

We redefine retirement by solving the problem of decumulation with an income-for-life solution so you can spend your golden years pursing your passions, not rebalancing your budget.

At Purpose Investments, we believe the solution is the Longevity Pension Fund. This first-of-its-kind solution provides income for life and is redeemable at any time*. It’s the missing piece of the retirement puzzle, providing a lifetime income stream** to Canadian retirees. Finally, you can retire from work—not from life.

Our Team

Som Seif Profile Image
Som Seif
CEO and Founder of Purpose Investments and Purpose Financial
Fraser Stark
Fraser Stark
President, Longevity Retirement Platform
Pat Leo
Pat Leo
VP, Longevity Retirement Solutions
Simon Barcelon
Simon Barcelon
VP, Longevity Retirement Solutions
Clayton Brown
Clayton Brown, CFP®
Retirement Income Planner

Our Advisors

Keith Ambachtsheer
Keith Ambachtsheer
President of KPA Advisory Services
Jim Leech
Jim Leech
Former President & CEO of Ontario Teachers’ Pension Plan and Chancellor of Queen’s University
Bonnie-Jeanne MacDonald
Bonnie-Jeanne MacDonald
Director of Financial Security Research at Ryerson University’s National Institute on Ageing
Fred Vettese
Fred Vettese
Former Chief Actuary of Morneau Shepell and personal finance author

As a critical component of the risk oversight and governance processes, Longevity has assembled an Advisory Committee of industry veterans and thought leaders from academia & research, public-sector leadership, pension plan consulting and publishing. This group of respected experts has helped design the Longevity Pension Fund, and will continue to share insights, help develop additional products, and offer guidance around the fund’s decisions, preserving the interests of retirees around income-related considerations.

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We're proud to announce that the Longevity Pension Fund is recommended by C.A.R.P., Canada’s largest advocacy association for older Canadians promoting equitable access to health care, financial security, and freedom from ageism.

*Funds are redeemable at the lesser of the investor’s net asset value or unpaid capital (initial value of your investment less any income payments made). Fees may apply. Please review the prospectus or speak to your advisor for more details.

**Although distributions are designed to increase over time, they may go up or down and are not guaranteed. The level will be assessed regularly, and impacted by market conditions and unitholder redemptions (both voluntary and due to death).

An online survey of 1,503 Canadians was completed between May 18, 2021 and May 20, 2021, using Angus Reid’s online panel. For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of +/- 2.4%, 19 times out of 20.