Group retirement income plans
Learn what they are and how they can help you maximize your savings throughout your retirement.
Moving your money from group savings plans to group income plans
Retiring from work means leaving your organization’s group retirement program. For some plans, turning your retirement savings into retirement income means moving it to a retirement income plan. Moving it to a group retirement income plan (GRIP) means you can continue with many of the features you've enjoyed with your group savings plan. Moving it to a Manulife GRIP means continuing with many of the same features, and maybe discovering a few more.
Which GRIP is right for you?
Sign in and look at your most recent statement to see which plans you have money in and whether your money is locked in or not. Then call us at 866-991-3056 to speak with a transition specialist about which group retirement income plans are available to you.
Registered Retirement Income Fund (RRIF)
- Use an RRIF for non-locked-in money coming from an RPP, RRSP, or DPSP.
- There’s a minimum you have to take out each year.
Life Income Fund (LIF)
- Use a LIF for locked-in money coming from an RPP, a Locked-in Retirement Account (LIRA), or another LIF.
- There’s a minimum (and sometimes maximum) you can take out each year.
- Whether you have a LIF, a Locked-in Retirement Income Fund (LRIF), a Restricted Life Income Fund (RLIF), or a prescribed Registered Retirement Income Fund (PRIF) depends on where you worked when you saved the money.
Wondering what to do with the money in your TFSA, EPSP, or NRSP?
Consider moving it into a TFSA or NRSP in The Manulife Personal Plan™.
An easy and rewarding way to save more
If you move your money into a Manulife group RRIF or LIF, you’ll continue to enjoy many of the same benefits as your group retirement savings plan, and more—helping you make the most of your savings and manage your retirement.
Guidance and support
Manulife’s professionals can help you look after your savings and manage your retirement.
Member Reward Program
Enjoy a yearly savings bonus and maintain your reward level as long as you’re invested in the plan.
So many investment choices
Enjoy a wide range of savings options and over 200 funds you might not get access to on your own.
Make the most of your group retirement income plan
It’s easier to make smart decisions with easy-to-understand information, tools, and guidance—right where you need them.
How much money do you need to retire in Canada?
Retirement happens sooner than you think. Answer five questions to start picturing your retirement and how much you’ll need to save.
What will your income be?
Find out how long a certain amount of money in a certain kind of retirement income plan is likely to last.
Supercharge your group retirement income plans
Partner with one of our advisors to learn what makes our group retirement income plans great and why it may be great for you.
Get help with your retirement plans—at any stage
Whether your retirement is just around the corner or already under way, we want to help you make the most of it. Let us point you towards the plans, resources, and tools we’ve designed just for people like you.