Approved Retirement Fund with lifelong income benefit


Guarantee your income for life

How can you convert your hard-earned retirement savings into an income that will last your lifetime? Do you choose to purchase a secure income but give up control of and access to your retirement funds or do you keep control of your funds without the security of a guaranteed income?

Now, for the first time in Ireland, an Approved Retirement Fund (ARF) is available which allows you to keep control over your investment by providing access to your retirement fund while at the same time allowing you to enjoy the security of a guaranteed income for life.

By providing both security and flexibility, the Canada Life Approved Retirement Fund with lifelong income benefit provides a creative and innovative new retirement option, offering you:

  • A secure, predictable, guaranteed income for life in retirement;
  • Access to your retirement fund when you need it;
  • A choice of investment options;
  • The potential for your income to be increased through income ‘lock-ins’;
  • A minimum payment on death.

You should note that if you do make a discretionary withdrawal, your guaranteed income will reduce.

The minimum payment on death is equal to the higher of the current fund value and the premium paid less all withdrawals made (including any surrender penalties, administration charges and tax).

If you qualify for an Approved Retirement Fund, talk to your Financial Advisor about the Canada Life Approved Retirement Fund with lifelong income benefit.

This product is a unique Canada Life Approved Retirement Fund with lifelong income benefit. The lifelong income benefit is an optional benefit and you can choose whether or not to select it. If you do not select the lifelong income benefit then it is important to note that all the features of the lifelong income benefit do not apply. See pages 23 to 29 of the brochure below for further information.

The Canada Life ARF with lifelong income benefit is provided by Canada Life Assurance (Ireland) Limited.

The guarantee is provided by Canada Life Assurance (Ireland) Limited, which guarantees payment of a specified income for the remainder of the policyholder’s life, together with a payment on death equal to the amount paid in, less the amounts withdrawn (including any surrender penalties, administration charges and tax), subject to the terms and conditions of the policy.

For more information please see our product brochure

This brochure contains important information about the main features and restrictions of this product. It is therefore important that you read the full brochure in order to gain a full understanding of the nature of the product.

Press Release 27th September 2011
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