Life looks different – with retirement choices

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Did you know?

  • Only 10% of Canadians plan for the retirement lifestyle they want1
  • 61% of Canadians don’t work with a financial professional2

Let’s start planning your retirement together!

Sun Life is here to help you achieve your retirement goals. Access a toolkit that helps you answer the following popular questions:

  • “How do I start planning my retirement?”
  • “How do I keep more of my retirement income and pay less tax?”
  • “Health insurance in retirement: How do I pay for my health costs?”
Download your retirement toolkit

Retirement solutions aren’t one size fits all.

Sun Life offers a variety of income solutions to meet your needs

RRIF/LIF (Registered Retirement Income Fund/ Life Income Fund)

  • Flexible option. You can take income as needed (subject to annual minimums and maximums).
  • You can put registered savings and pension money into a RRIF/LIF3. That’s true in any province.
  • Payments can continue to your spouse in the event of your death. You may be able to leave your remaining savings to your estate or beneficiary.

Annuities

  • Payments are a set amount each month or year. The purchase of an annuity is irreversible.
  • Your payments are guaranteed for life, which means you’ll never outlive your money.
  • Joint annuities allow lifetime income to a spouse. You may also choose a guaranteed payment period.Annuities

Experience the benefits of saving with Sun Life

Continue to grow your savings with Sun Life by taking advantage of our Choices program.

As a Choices plan member, you'll get access to:

  • Great pricing and competitive fees: Some of the best pricing in the industry and competitive investment fees4 to help your savings grow.
  • Options: Over 140 funds to choose from including retirement focused solutions.
  • Professional advice at no extra cost: Licensed Retirement Consultants5 available to help you build your retirement plan.

Getting ready for retirement takes an action plan

That’s why our team of licensed consultants5 are here to give you one-on-one advice - at no additional cost through your plan. Maximize your Choices savings plan to align with your financial goals. Plus – you'll get access to a financial roadmap with Sun Life One Plan, a simple, easy to follow, goal-based planning tool allowing you to update your roadmap as your life circumstances change.

1 33 Canadian Retirement Savings Statistics to Keep You Warm in 2022, “Reviewlution”, October 2022.

2 FP Canada 2022 Financial Stress Index; survey by Leger.

3 Depending on the pension legislation governing your locked-in savings, you may have to use one of the following products instead of a LIF: Locked-In Retirement Income Fund (LRIF), Prescribed Retirement Income Fund (PRIF), or Restricted Life Income Fund (RLIF). Speak with a retirement consultant or financial professional for more information.

4 We use a portion of your fund management fees to pay for member servicing costs associated with your Plan. This includes advisor commissions if you’re serviced by an advisor.

5 Registered as financial security advisors in the province of Quebec.