Sun Life Financial is Western's preferred provider of a Retirement Income Fund (RIF) program. Western retirees have been able to invest in the Sun Life Retirement & Savings Plan for Western Retirees (Sun Life Plan) since May 2015.
Members of the Western Pension Plan who are planning their retirement, and those who are already retired, will have a number of options to consider when they wish to begin taking an income from their pension savings:
You will find it helpful and informative to take the time to explore your options, and prepare well in advance of your retirement date. Read our Western Retirement-Ready Checklist – a good overview of all the opportunities available to you, and the steps you can take to plan your retirement from Western. You may also find that the Western Retirement Guide offers helpful information about your retirement options.
The Sun Life Plan offers an outstanding opportunity for Western retirees, providing access to a broad range of quality investment choices (including those familiar to Western Pension Plan members), a high degree of flexibility including the option to transfer-in outside assets and spousal accounts, and convenient financial planning support. Western has negotiated very competitive group fees, lower than you would expect to pay as an individual investor. For those who join the plan between now and May 1, 2025, these fees are guaranteed for life.
Sun Life Financial will offer group information sessions on campus from time to time, which can give you a good overview of the Plan. They will be a good choice for those within two years of retirement. If you are ready to learn more now, please watch a pre-recorded information session (webinar) online (Western user ID and password required).
If you are within five years of retirement, and would like to arrange a 1:1 conversation with a Sun Life Retirement Consultant, call (toll-free) 1-866-224-3906 any business day between 8 a.m. and 6 p.m. ET. Choose option 1 to speak with a Sun Life Consultant. Your 1:1 meeting with a Sun Life Retirement Consultant can allow you to review your investments and get answers to the questions that are important to you. You may also wish to discuss the benefits of bringing external or spousal investments to the Sun Life Plan, along with your Western Pension Plan funds. The Sun Life Retirement Consultants can assist with the registration process, when you are ready to make that move.
Please note that these Sun Life documents are password protected. If you are a Western RIF or Pension Plan member please contact Western Human Resources at 519-661-2194 or email firstname.lastname@example.org.
-Watch an online recorded information session
-View a copy of the PowerPoint presentation for Western Pension Plan members who may wish to join the Sun Life Plan
-Details on the investment options available in the Sun Life Plan
-View a Sun Life Plan brochure
-Frequently asked questions document
-How to prepare to meet with a Sun Life Retirement Consultant or your advisor