The plan will provide you with planning tools to assist you with developing a retirement income plan – converting savings to income in retirement and integrating various income sources, such as government benefits.
You’ll be able to access your Common Good Plan retirement income in a number of different ways. They include setting up a regular withdrawal based on a percentage of your assets and/or a fixed pension-like payment. You will also have the option to withdraw funds in a lump sum or through a transfer to another TFSA, RRSP, or RRIF.