iA Financial (iA) recently announced that the Smoothed Return Index Account (SRIA) interest rate guaranteed for calendar 2024 is 2.90%, up from 2.50% in calendar 2023 (announcement attached).
iA says the main factor accounting for the net increase in the credited rate for 2024 is the rise in the company’s long-term return expectations as a consequence of the recent economic environment and the rise in interest rates.
We have contacted iA for historical returns since October 31, 2022 and will update the historical performance table when iA publishes the data.
For more information, clients can contact their Account Manager or Wayne Stone at firstname.lastname@example.org.
The opinions expressed in this memorandum are strictly those of Westward Advisors Ltd. This memorandum is for information purposes only and is not legal or tax advice.