When it’s time to make the
most of your retirement
savings, we can help
The key to a successful
retirement is planning –
planning how you’ll spend
your time, and planning
how to use your retirement
savings to support you while
you enjoy your new-found
free time. Moving from saving
for retirement to actually
drawing retirement income
is a huge step – and it’s one
Standard Life can help you
take.
Our host of retirement income
plans – including RRIFs and
LIFs – can help you manage
your wealth and make sure
that you have the money you
need to do the things you want
to do. We’ll help you make
retirement everything you
planned it to be.
Think about the type of retirement income plan that will work for you
- What’s a RRIF?
A Registered Retirement Income Fund (RRIF)
is created by converting your RRSP into an
income‑producing vehicle by the end of the year
you turn 71†, at the latest. Your RRIF gives you
periodic income while keeping the remaining assets in your plan tax-sheltered. You can choose
different types of investments to hold within
your RRIF.
- What’s a LIF?
A Life Income Fund (LIF) is similar to a RRIF,
except that it is designed for people with
locked‑in pension portfolios. If you have
savings in Locked-in RSPs, Locked-in Retirement
Accounts (LIRAs) or Registered Pension Plans
(RPPs), LIFs are an alternative to life annuities.
Like RRIFs, LIFs give you regular payments,
however, there’s an annual maximum amount
of money that you can withdraw. In some
provinces, you’ll need to convert your LIF to a
life annuity no later than age 80.
Think about the
Standard Life solution that
will meet your needs
Ideal Term Funds -
If you’re looking for a solution that offers term
funds and payout flexibility, we propose our
Ideal Term Funds. How they work for you:
- Terms from 30 days to 30 years, including
customized terms, plus a Daily Interest Fund
- Choose from four types of pre-scheduled
income stream options
- Pre-scheduled income payments free of
surrender charges
- Free income stream changes
- Payments deposited directly to your bank
account
Ideal Segregated Funds -
If what you want is consistent performance
with long-term growth potential and a
wide selection of professionally managed
funds offering diversification, consider our
Ideal Segregated Funds.
Available in PDF file format
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