Our retirement income products could help you make the most of your pension pot.
If you've decided to access your pension pot, our products can help you make the most of your money. Choosing the right product for you is an important decision and you should shop around to explore retirement products and options from a wide range of providers.
We currently have two products available for Sun Life Financial of Canada customers.
You can use your pension pot to buy our Pension Annuity, which will provide you with a regular income for the rest of your life. The amount of income you receive will depend on a number of factors including your health.
If you have certain lifestyle health risks and/or medical conditions, we may be able to offer you an enhanced income.
Cash-Out Retirement Plan
You can use our Cash-Out Retirement Plan to withdraw money from your pension pot over a term of between 3 and 25 years.
You give us your pension lump sum and then we pay you a fixed regular income over the term of your choice.
If you decide to buy a retirement product from us, we'll pay Sun Life Financial of Canada an introduction fee. This fee will not be deducted from your pension pot, and will not affect the income quoted.
- Pension Annuity: 3.5% of the purchase price
- Cash-Out Retirement Plan: 0.5% of the purchase price