Manulife Financial’s Canadian pension operations have been awarded the administration and record-keeping business for the Deferred Profit Sharing Plan and Group Registered Retirement Savings Plan Wal-Mart Canada offers for its employees.

The award means Manulife will become the exclusive provider of group benefits and group retirement savings programs for Wal-Mart Canada’s more than 60,000 employees.

“We’re very proud to be selected as the service provider of choice for Wal-Mart’s group retirement savings program,” said Michael Doughty, senior vp of Manulife Financial’s Canadian Pension Operations, in a release.