Retirement Income Services
Our goal is to simplify your retirement planning!
You have looked ahead by saving for retirement. Now you need to decide what to do with your retirement savings. This is an important question, and a stage in your life that we can help you through.
Choosing the best option for you means looking at the lifestyle you plan to enjoy during your retirement. A decision made today could “lock you in” to a fixed income for the rest of your retirement years. Careful planning and an understanding of your options are therefore essential.
Overview of options:
- Registered Retirement Income Fund (RRIF) puts you in control of your investment and the amount of income it pays you.
- Locked In Retirement Income Fund (LRIF) is similar to a RRIF except it provides payments for life.
- Life Annuity guarantees a fixed income.
- Term Certain Annuity to age 90 (TCA90) gives you some control over the investment and earnings.
- Life Income Fund (LIF) combines the benefits of both a RRIF and Life Annuity.
All these options can make the decision confusing. Understanding the difference between each option is where we can help.
When you talk to our specialists, you can:
- Trust their knowledge and expertise.
- Be confident that they have your best interests in mind.
After all they work for you, our member owner!
To order a current copy of the Knowing Your Retirement Income Options booklet, call TeleService at 934-4000 or toll-free at 1-866-8MEMBER (863-6237).
We invite you to contact a Affinity Credit Union Representative by email, or call us at 934-4000 or toll-free at 1-866-8MEMBER (863-6237) to discuss the option that is right for you.