IncomePlus Overview
There is an investment 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
Potentially increasing guaranteed income to help keep pace with inflation
The flexibility 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 ensure the smooth transition of your estate
Potential creditor protection
Lifetime Withdrawal Amount (LWA)
At age 65, the LWA provides a guaranteed stream of income for life.
Income bonus – to increase guaranteed payments
IncomePlus provides an annual five per cent income bonus available in any year no withdrawals are taken. In the first year, the bonus is pro-rated based on the month of initial deposit. Bonuses are not cash payments.
This information applies to GIF Select contracts sold on or after October 5, 2009 and does not apply to GIF Select IncomePlus contracts sold prior to 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 may have a negative impact on future income payments. The Lifetime Withdrawal Amount becomes available on January 1st of the year the annuitant or the younger of the annuitant and the Joint Life (if applicable) turns age 65. The Joint Life must be the spouse (as defined by the Income Tax Act (Canada)) of the annuitant at the time of election of the Joint Life Payout Option. Only one person can be named as the Joint Life and may not be changed. Other conditions may apply.
