Thinking about retiring?
(Retired already? Go to your section below)
Ready to Retire is here to help.
Now it's time to start using what you’ve worked so hard to save – but you can also keep your money working for you!
As you approach your retirement, you’ll need to make some important decisions around how you want to convert your savings into your income for the coming years. These aren’t decisions to make lightly, because they will inform how your income is structured, and may not be reversible once in place.
When you are within 6 months of your retirement date, you’ll have access to Ready to Retire – a valuable CBBenefits service, available at no charge to you.
Ready to Retire is designed to ensure that you and every CBPP member who is transitioning into retirement gets the financial guidance needed to make informed, decisions.
Ready to Retire can also help you complete any forms or other paperwork required and, when needed, act as a liaison between you and the financial institution.
Once you’ve discussed and finalized your retirement date with Ready to Retire, then you’ll want to contact your employer to let them know. Your employer will connect with Canada Life to get option forms sent to you and arrange to stop contributions, etc.
Are you Ready to Retire – or soon?
Just send a note to firstname.lastname@example.org to get started.
Your retirement income options
From Ready to Retire to your access to Canada Life investment and retirement specialists, to the Fidelity ClearPath Income Fund, you have the support you need to help you transition to the next phase of your life.
And, as a retired member, you’ll have access to the same low fees, professional management, and services that you currently enjoy.
Here’s an overview of your options for converting retirement savings into income.
Registered but not locked-in plans
You must convert your registered savings plans by the end of the year you turn 71. Your options:
Registered, locked-in plans
You must convert your locked-in savings plans to locked-in income plans. Your options:
You can continue to use the same accounts as you did before retiring
You must apply to begin receiving retirement benefits
When you have questions, we can help you find the answers. Simply refer to the resources available on this website, or reach out to Canada Life.
We periodically host events designed to ensure you remain informed. You can access our latest event recording below.
You can access a copy of the presentation slides, too.