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Three to five years before retirement

Revisit your investment strategy and consider shifting to more conservative or lower-risk investments. Learn how plan rules may affect withdrawals of your retirement savings. List possible lifestyle changes you’ll encounter at retirement. Consider things like travel, part-time work or downsizing to a new home. Track your current spending, estimate retirement income needs and develop a realistic budget (don’t forget about inflation). Write down all potential income sources. Remember that personal savings, company retirement plans and government benefits will determine retirement income.

You’ll receive a package from Canada Life with the steps to turn your savings to retirement income. For more information contact your investment and retirement specialist.

Participants of the Engineers Canada - sponsored Financial Security Program use Canada Life’s GRS Access website to manage their plans. Create a retirement plan, check your balance, make account changes and manage your investments.