Recent studies have shown that in order to maintain your pre-retirement standard of living, you will need an income of at least 75% of your final salary for the remainder of your lifetime. This could be 20 years or more. As an example, if your salary at retirement is $50,000 per year, you will need an annual income of at least $37,500 to live comfortably during your retirement.

The Argus Individual Retirement Plan, an approved product under the Occupational Pensions Act, provides an ideal opportunity to help achieve your retirement income goal. The plan can accommodate funds from your participation in a previous employer plan on either termination of employment or at retirement.

Ongoing contributions are encouraged to achieve your target income. The plan allows you to invest your contributions in one of the Argus Select Funds, which take into account your risk profile and investment objectives. These Funds are actively managed by Argus Financial Limited to provide consistent and stable returns.

At retirement, the account can remain invested while allowing regular withdrawals to assist with your income needs. This drawdown option provides the opportunity for growth in value that could offset the effect of inflation. You have the right to purchase an annuity at any time should that option be in your best interest. In the event of death, the full value of the account is payable to the beneficiary who can elect to receive regular income payments instead.

Further information on this retirement planning product is available by contacting the Argus Customer Service Centre at 298-0888.