IncomePlus Overview
A solution to help manage the concerns and challenges you have for retirement – IncomePlus
- Predictable income guaranteed not to decrease no matter how investments perform
- Sustainable income that will last for your life or the lives of you and your spouse
- Flexible guaranteed income options to suit your retirement income needs
- Potentially increasing guaranteed income to help keep pace with inflation
- The ability to change your investment or access your savings at any time (fees may apply)
- Tax–efficient income when held in a non–registered account
- Benefits that help ensure the smooth transition of your estate
- Potential creditor protection
Income bonus – to increase guaranteed payments
IncomePlus provides an annual five per cent income bonus available in any year no withdrawals are taken.
This information applies only to GIF Select contracts sold on or after October 5, 2009. Any amount that is allocated to a segregated fund is invested at the risk of the contractholder and may increase or decrease in value. Exceeding the withdrawal thresholds and/or withdrawals taken prior to Election of LWA (Lifetime Withdrawal Amount) may have a negative impact on future income payments. The LWA becomes available for election on January 1st of the year the annuitant or the younger of the annuitant and the Joint Life (if applicable) turns age 55. Other conditions may apply. The Joint Life must be the spouse or the common–law partner (as defined by the Income Tax Act (Canada)) of the annuitant at the time of choosing the Joint Life Payout Option. Only one person can be named as the Joint Life and may not be changed.