What happens to my retirement plan when I retire?

Even after retirement, you continue to reap the benefits of a Common Wealth plan. You would still have access to the low-cost investment funds as part of the plan, which would automatically be adjusted (more conservative) according to your age and stage. We’ll also provide support in turning your nest egg into actual retirement income by converting to and managing a RRIF.

You will be able to access your retirement income from the plan in a number of different ways. They include setting up a regular withdrawal based on a percentage of assets and/or a fixed pension-like payment. You also have the option to withdraw funds in a lump sum or through a transfer to another TFSA, RRSP, or RRIF.

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