90% of members want a regular income, but do not want to lock into an annuity. 1
43% of Canadians are unsure about how much they should withdraw each year in retirement. 2
40% of Canadians are worried they will run out of money. 3
How can Sun Life MyRetirement Income help you transition your savings to income? It’s simple!
You make one important decision. Simply choose the age you want your money to last until (the “maturity age”) and let our professionals do the rest. You can choose from 85, 90, 95 or 100 (or a combination). And we can help you determine the right age for you.
You’ll receive steady income all the way to your selected maturity age. While the income amount is not guaranteed, it should not fluctuate extensively year over year.
Retirement income is directly deposited to your bank account on a regular basis. There is no rebalancing or recalculating required at any time – the solution takes care of that for you.
You can also benefit from:
Flexibility
- Choose your maturity age and payment frequency and switch at any time
- Available in different account types
Accessibility
- Access your account balance at any time
- Withdraw or add money at any time without fees or penalties
Growth potential
Your money remains invested in a well-diversified portfolio, so your savings can still grow in retirement.
Why might this solution be right for you?
It helps you live the retirement you can afford.
This solution helps you know how much you can afford to spend, so you don’t spend too much—or too little.
It's easy to leave a legacy for your loved ones.
If you pass away before your chosen maturity age, your remaining savings will transfer to your designated beneficiary, and they skip the lengthy estate settlement process.
This is a “do it for me” solution.
If you opted to let us help “do it for you” (in other words, make the complex investment decisions on your behalf) while you saved for retirement, this is the parallel solution in retirement.
Want to learn more?
2 minutes 15 seconds
Learn more about the benefits of Sun Life MyRetirement Income and how this solution helps simplify retirement in this video.
Dive into the details and find out how this solution works.
Our experienced Retirement Consultants4 are here to help
67% of Canadians want advice when learning about new financial products 5. We can:
- Answer your questions
- Determine the best combination of retirement income solutions for you
- Make adjustments if your life circumstances change.
Speak with a Retirement Consultant
Monday to Friday, 8 a.m. to 8 p.m. ET | 1-866-224-3906 (Option 1)
Sun Life MyRetirement Income is only offered to Sun Life Group Retirement Services plan members.
Sun Life Assurance Company of Canada is the issuer of payout annuities (if selected). Sun Life Global Investments is a trade name of SLGI Asset Management Inc., Sun Life Assurance Company of Canada, and Sun Life Financial Trust Inc., all of which are members of the Sun Life group of companies.
© Sun Life Assurance Company of Canada, and their licensors 2024.
All rights reserved. SLGI is providing services to Sun Life Financial Trust Inc. as sponsor of the Group Choices plan.
1 2024, study by the Canadian Association of Retired Persons, conducted for Sun Life
2 33 Canadian Retirement Savings Strategies to keep you warm in 2022 “Reviewlution”. October 2022
3 Majority of Canadians lack a financial plan, Sun Life survey Sept. 2021
4 Registered as financial security advisors in Quebec
5 Sun Life VPLA study