There are three important considerations to keep in mind when you’re building a retirement income strategy:

To determine what's right for you, you’ll need to look at how each of the following could impact or influence how you want to invest.

Retirement risks:

Retirement preferences:

Annuities, Systematic Withdrawal Plans and Guaranteed Lifetime Income Benefits offer unique features and benefits to meet each challenge so you can design a plan that works for you. 

Annuities and other sources of guaranteed lifetime income, such as Defined Benefit Pension Plans, the Canada Pension Plan (CPP), and Old Age Security (OAS):

Retirement Risks
Retirement Preferences
Inflation
Sequence
Longevity
Liquidity
Behaviour
Estate
LOW
MED
HIGH
LOW
HIGH
LOW

Systematic Withdrawal Plans (SWPs) linked to portfolios of mutual funds, stocks, bonds, GICs, cash, etc.

Retirement Risks
Retirement Preferences
Inflation
Sequence
Longevity
Liquidity
Behaviour
Estate
HIGH
LOW
LOW
HIGH
LOW
HIGH

Guaranteed Lifetime Income Benefits, including Guaranteed Minimum Withdrawal) Benefits (GMWBs)

Retirement Risks
Retirement Preferences
Inflation
Sequence
Longevity
Liquidity
Behaviour
Estate
MED
HIGH MED
MED
MED
MED

Based on your specific needs and preferences, a financial advisor can help you determine how much of your money you should invest in each of these categories, taking into account the costs and the benefits of these products and how they interact with each other. 

Read more on this topic:

A Successful Income Strategy, Manulife Investments (PDF)

Products or services you may want to consider:

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