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The risks

Your retirement looks very different from that of previous generations of retirees.

  • Longevity: The probability of living to age 100 is increasing. If your plan only extends to age 85 or 90, you could have a significant income gap.
  • Inflation: Your buying power is eroded over time as inflation increases.
  • Mortality: If a spouse passes away, the remaining spouse may face a decrease1 in income, making expenses or debt harder to manage.
  • Market: Market volatility can have a significant affect on retirement income. Withdrawals made during poor market performance in the early retirement years can deplete a retirement fund sooner than expected.
  • Health: Longer life expectancies can bring emerging health care needs and costs as you age.

You can manage these risks and create a retirement income plan that’s customized for you.

Is age 100 the new 85? Planning to just age 85 or 90 could leave a big gap in your retirement income.

The solution

Sun GIF Solutions Income Series can help you build a better RRIF so you won’t run out of money in retirement.

  • Guaranteed income will never decrease and lasts for as long as you live
  • Your income is protected against market volatility
  • 75% maturity guarantee2,3
  • 75% death benefit guarantee3
  • Single or joint life income available

You’ll receive the greater of the RRIF minimum or the lifetime guaranteed income amount.

47% of Canadians see a serious risk of outliving their savings.4

Security

The underlying investments are managed by Sun Life, which has a world-class credit research platform.

With Sun GIF Solutions Income Series, you can have a guaranteed systematic withdrawal payment (SWP) to supplement your income from other sources like Canada Pension Plan and Old Age Security. Even if the contract’s market value goes to zero, your income will continue.

72% of Canadians aren’t living the retirement they expected.5

Sun GIF Solutions Income Series Addresses:

  • Longevity risk
  • Inflation risk
  • Mortality risk
  • Market risk
  • Health risk

Manage your retirement risks with confidence. Sun GIF Solutions Income Series can provide a customized solution helping you to plan for retirement income that will last for your lifetime.

Any amount that is allocated to a segregated fund is invested at the risk of the contract owner and may increase or decrease in value.

1As long as the adjusted guaranteed income amount is not exceeded.

2Payable on Dec. 31, age 100 of the annuitant.

3Reduced proportionately by withdrawals.

4,5 Source: BNN Bloomberg, November, 2019.