What is Manulife Financial RetirementPlus?
Manulife Financial RetirementPlus is a retirement savings plan offered by The Manufacturers Life Insurance Company , which is designed to help Canadians prepare for their retirement. The plan offers a range of investment options, including mutual funds and segregated funds, that are managed by experienced investment professionals from Manulife Investment Management.
One of the unique features of the RetirementPlus plan is that it allows Canadians to invest in segregated funds, which are similar to mutual funds, but are designed to provide additional guarantees and protections against market volatility. This can be particularly attractive for individuals who are concerned about market fluctuations affecting their retirement savings.
In addition to investment options, the RetirementPlus plan also provides a range of other benefits, including access to financial planning tools, retirement income options, and estate planning services. Participants in the plan can take advantage of a range of tax benefits, including tax-sheltered growth and the ability to defer taxes on withdrawals until retirement.
It's worth noting that there are costs associated with the RetirementPlus plan, including fees for investment management and insurance guarantees. Individuals interested in the plan should carefully review the associated costs and benefits before making a decision.
Overall, Manulife Financial RetirementPlus can be a valuable tool for Canadians looking to save for their retirement. With a range of investment options and a variety of other benefits, the plan offers a comprehensive solution for retirement planning.
Frequently Asked Questions about manulife financial retirementplus
Manulife Financial Corp (MFC) offers a range of financial protection and asset and wealth management products and services to individuals and corporate customers. Its insurance products include individual life insurance, creditor insurance, individual living benefits insurance and group life and health insurance.
If your plan lets you make a withdrawal online, sign in and go to My Account > Make a Withdrawal. Follow the instructions. You can take out $20,000 or less. If you can't make an online withdrawal or you would like to take out more than $20,000, you can request it using a withdrawal form that can be submitted online.
Objective The Fund is managed to provide a balance between current income and growth of capital, with emphasis on income and capital preservation. This fund is diversified by asset class and investment style with the objective of achieving superior risk−adjusted returns.
For more information, call 1-888-713-7788.
Manulife is the first Canadian life insurer to underwrite using artificial intelligence. We are the first company to fully embrace behavioural-based life insurance with the launch of John Hancock Vitality Go on all life insurance policies at no additional cost to the customer.
Competitive advantages include the company's operating scale, diversified product offerings and strong brand resonance.
Withdrawal fee (equivalent to the redemption fee) – If your employer allows withdrawals, your first withdrawal in a calendar year is free, and you pay a fee of $25 per subsequent withdrawal.
Utilizing a Broker or Distributor
Contacting your broker and requesting a withdrawal are options. You must complete and submit a withdrawal request form if you want to withdraw offline. The state would be given to the Asset Management Company by the broker.
A retirement fund is one into which you can save regular contributions while you are working to provide an income when you reach retirement age. Retirement funds are defined in law as pension fund organisations and are regulated by the Pension Funds Act.
A RIF uses the savings from your Retirement Savings Plan (RSP) to provide you with a steady, dependable source of income. Other than a minimum annual amount set by the federal government, you have the freedom to choose the amount you want to receive each year and you only pay tax on the money withdrawn from your RIO.
The Steps Retirement Program® (Steps) includes five lifestyle scenarios that act as a guide to help members select a retirement income goal. To help ensure the suggested annual retirement income associated with these Lifestyle Scenarios reflects the current cost of living, we regularly review the assumptions we use.
A GRSP is similar to an individual registered retirement savings plan (RRSP), but with the added advantage of allowing employees to have savings deducted straight from their paycheques into a range of preselected investments, often with a match from the employer.
Life insurance plans protect your family from experiencing financial burden in case of disability or death. You can also customize your plans through riders or add-on benefits based on more specific needs such as critical illness coverage, hospitalization income benefit, annual education benefit, and child protection.
