Retirement Income Options
Registered retirement income plans pay you an income.
You pay a lump sum to purchase a segregated fund policy that pays you an income as frequently as you choose. And, because our retirement income plans are insurance products, they can bring more certainty and flexibility to your retirement years.
There are many types of retirement income products for you to consider when it comes time to convert your retirement savings plan into a retirement income plan. It all depends on the source of your retirement savings.
Registered retirement income funds are the most commonly held retirement income policies because their source—registered retirement savings plans (RRSPs)—are so popular.
Life income funds are purchased with a locked-in RRSP.
Locked-in retirement income funds are purchased with a registered pension plan or a locked-in retirement account.
Prescribed retirement income funds are only available to individuals with an existing Saskatchewan retirement income plan.