Enjoying your retirement income

At some point you'll transition into retirement and begin to enjoy the savings you've built.

To achieve your idea of retirement, you'll need to make some important decisions, because your retirement income:

needs to last a long time. How long? Calculate it using the life expectancy tool.
needs to cover all your living expenses:
- the necessities,
- the things you want to do, and
- any future health care costs.
will come from multiple income sources that will start and end at different times, possibly leaving gaps.
will need to be converted from savings to income products.

Investments that help me enjoy my retirement income


Registered retirement income fund (RRIF)	Government establishes minimum annual withdrawal required You choose what to invest in, but there's no guarantee how long the money will last
Life income fund and Locked in retirement income fund (LIF and LRIF)	Provides income from money originally in an employer pension plan You decide how money is invested Like a RRIF, government determines minimum income payments
SunFlex Retirement Income	Guaranteed lifetime income Potential for additional bonus income Flexibility to match your lifestyle and for when your needs change
Payout annuity	Guaranteed income - either for life or for a specific time No investment decisions to make
Mutual funds	No guarantees of investment performance Thousands available - each with its own risk profile and investing objectives
Segregated fund contracts	Like mutual funds, but also offer guarantees* on the security of the money you invest. (*those guarantees are not available for segregated funds held in a group plan provided by your employer.)
SunWise Essential Series	A segregated fund with options that can: Provide guaranteed income for life, and other income guarantees Protect your savings in bad markets Let you actively manage how your money is invested
Tax-Free Savings Account (TFSA)	Save up to $5,500* a year. Your money grows without being taxed.

*Effective January 1, 2013, the TFSA contribution limit is $5,500. The $5,000 TFSA contribution limit will still apply to all years prior to 2013.


Canada Pension Plan (CPP)/Quebec Pension Plan (QPP)	Lifetime monthly income, indexed to inflation Apply for income to start as young as 60 (with reduced monthly payments) or as old as 70 (with increased monthly payments)
Old Age Security (OAS)	OAS: lifetime monthly income, indexed to inflation, begins at age 65, but you must repay all or some of it if your total income is over $64,718 a year
Guaranteed Income Supplement (GIS)	GIS: Available to low income retirees. You need to apply and qualify each year.

Watch how a life annuity can help you cover your costs in retirement.

Contact your advisor directly, or find an advisor online.

Visit Advisor Match Link to an external website to find one today.

Call 1 877 SUN-LIFE (1 877 786 5433)
Monday to Friday, 8 a.m. to 8 p.m. ET