Transition To Retirement

Transition to Retirement

You're almost there

You've likely thought about what retirement will be like, but have you defined the details that will make up the next phase of your life? Now is the time to nail those down and identify your short- and long-term goals. Remember, retirement isn't an endgame; it's a full and active part of your life that could last a long time so you'll want to be as confident as you can - financially, emotionally and physically. We can work with you in the years and months leading up to this new stage. And when it comes time for the next journey to begin, we'll be there to help you continue planning for your future.

Key milestones to keep in mind as retirement approaches

  • 60 - First eligible for Canada Pension Plan (CPP) benefits - with reduced benefits
  • 65 - Full retirement age for CPP
  • 65 - Full retirement age for Old Age Security (OAS) benefits
  • 70 - Maximum CPP and OAS benefits
  • 71 - Must convert RRSP to RRIF or annuity before the end of the year you turn 71
  • 72 - Required minimum distributions begin the year you turn 72

Planning For Life