Navigation Menu Sign in Retirement income Do you know where your retirement income will come from? Just because you’ve stopped working doesn’t mean your money has to. Find out how you can invest your savings to provide a steady stream of income so you can enjoy your retirement years to the fullest. Different retirement income options for different needs Your retirement income will typically come from a number of different sources. You may be eligible for CPP/QPP and OAS or other government benefits – and you may have a company pension. But, if you’re like most Canadians, you also need to turn your savings into a retirement income stream to help meet your financial needs throughout retirement. With a range of products and features to offer, an advisor can help you choose the product or products that best fit your needs. Featured calculator Annuity calculator Retirement savings 101 Get our FREE Saving for Retirement email series Sign up now Types of retirement income: Annuity An annuity guarantees you will receive an income for life, or as long as the annuity contract specifies. Your retirement income will be secure from both market and interest-rate risks. Learn more about annuities Segregated funds Segregated funds, like mutual funds, are market-based investments, but because they are insurance contracts, they also have additional benefits, including efficient estate settlement. There are a number of different types of segregated fund contracts that combine capital protection with growth potential. Your savings will be protected. When your contract matures or when you die, your savings will be guaranteed to return a minimum of 75% up to 100% of the money you put in (less withdrawals). Learn more about segregated funds Mutual funds A mutual fund is a large pool of money belonging to many people that is invested by experts in stocks, bonds or other securities with the goal of increasing the value of the overall pool. Mutual funds are often held in tax-advantaged retirement income plans as a way of participating in markets. Learn more about mutual funds Guaranteed interest products There are a number of guaranteed interest products that all offer protection for your initial investment and the opportunity for predetermined growth. The guaranteed return is based on interest rates, the deposit amount, the length of the contract and other factors, depending on the type of product you choose. You’ll have peace of mind knowing your savings are protected from market fluctuations. Learn more about guaranteed interest products Tax-advantaged retirement income plans A registered retirement income fund (RRIF) is a tax-deferred way for you to use your RRSP savings to generate retirement income. A life income fund (LIF) or locked-in retirement income fund (LRIF) is like a RRIF for “locked-in” money that originally came from a pension plan. Learn more about RRIFs and LIFs Converting your RRSPs into retirement income Converting your locked-in RRSPs into retirement income Converting your other assets into income Income from government pensions: Canada Pension Plan (CPP)/Quebec Pension Plan (QPP) The plans provide a lifetime monthly income based on individual contributions and are indexed to inflation. You may apply for income to start as soon as age 60 (with reduced monthly payments) or as late as age 70 (with increased monthly payments). Learn more about CPP/Learn more about QPP Old Age Security (OAS) The plan provides a lifetime monthly income, indexed to inflation. Benefits begin at age 65 (or age 67, if you were born in 1958 or later), but you must repay some or all of it if your total income is over a certain amount ($72,809 for 2015). You can delay your income start date up to age 70, to receive an increased payment. Learn more about OAS Guaranteed Income Supplement (GIS) This is a monthly non-taxable benefit for low-income OAS recipients. Your eligibility for GIS is reviewed every year when you file your tax return. Learn more about GIS Tools & Resources What happens to my pension when I retire? What are RRSPs? (Video) Need financial advice? Make well-informed decisions with our help. Talk to your advisor or find one near you – there is no cost to talk to us. 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