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| Getting ready to enrol
Step 1: Create a Retirement Income Illustration to determine what plan meets your needs
Use Manulife's online Retirement Income Illustrator to create illustrations for RRIFs/LIFs/LRIFs and PRIFs. Try different payment scenarios to see how different assumptions affect the amount and duration of retirement income you may receive.
To access this tool, login to the Member secure website and choose 'Retirement Income Illustration' from the left-hand menu. Before using this tool, we recommend you contact your plan advisor or a Manulife Financial Education Specialist to determine what plan types and payment options are available to you.
Step 2: Choose the Manulife Group Retirement Income Plan on your Option Report
Check the Manulife Group Retirement Income Plan box on your Option Report. If you're comfortable completing the forms and know what type of plan you want, continue with Step 3; otherwise, return the Option Report to Manulife and a representative will contact you to discuss your retirement goals and the options that make sense for you.
Step 3: Complete an application
Working with your plan's advisor or a Financial Education Specialist – or on your own if you prefer – complete an application. You can print a RRIF/LIF/LRIF/PRIF Application from the website. You will need to complete a separate application for each type of plan that you want.
For example, if you have both locked-in and non-locked-in money in your Manulife group savings plan, you will need to complete a separate application for the LIF (for your locked-in money) and the RRIF (for your non-locked-in money).
TIP
Here is a list of the investment options for the Manulife Group Retirement Income Plan available through the Manulife Group Retirement Income Plan if you'd like to change your investment instructions at this point. |
Note: Funds that were unique to your former employer's group savings plan are not available in the Group Retirement Income Plan.
Step 4: Send the completed application(s) to Manulife
You will receive a statement from Manulife confirming your transfer to the Manulife Group Retirement Income Plan as soon as your new account has been set-up.
Need more information?
You can contact the plan advisor for your group savings plan (if listed on page 1 of your Member Statement or Option Report) or call a licensed Manulife Financial Education Specialist
at 1-888-727-7766, Monday to Friday, 9 a.m. to 5 p.m. ET. Be sure to select option 4 then option 1 after you select your language preference.
Ask for details about transferring your other registered savings to your Manulife Group Retirement Income Plan. | |
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