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WHEN YOU leave a company to change jobs, start your own business, or for other reasons, you'll be faced with important financial decisions. Pension options. If you belong to an employer-sponsored pension plan, you may be able to keep the money in the plan and receive a deferred pension benefit. A second option is to transfer the accumulated pension benefits to a locked-in Registered Retirement Savings Plan (RRSP), also called a locked-in retirement account (LIRA), and then invest the money yourself. You will need professional advice to determine which option is likely to give you more money at retirement.

Shelter a retiring allowance.
A retiring allowance could include severance or termination pay, payments for long service, or for unused sick leave. It might also include a settlement for wrongful dismissal. You may be able to roll all or part of a retiring allowance into an RRSP.

Replace group insurance.
You usually have 31 days after you leave the company to convert group life insurance to individual coverage without medical evidence. If you are in good health and a non-smoker, you may be able to get new individual coverage at a lower cost than you could by converting to the individual insurance available through your group plan. If you don't have personal disability insurance, you might arrange for an individual disability policy. If your spouse works, you may be able to obtain health and dental coverage through his or her group plan. If not, consider private insurance.

If you would like to learn more about this strategy or similar Giroux planning methodologies - visit this area often for updates or call us to book a personal strategy session.

Manulife Securities Investment Services Inc. is registered as a Mutual Fund Dealer, or its equivalent, with the provincial securities commissions and as such our Advisors are entitled to sell mutual funds and other approved securities as permitted under our registration. They may also be able to provide other services or products to you through their own business. As a member of the Mutual Fund Dealers Association of Canada ("MFDA"), Manulife Securities Investment Services Inc. is obligated to disclose to you that you may be dealing with companies other than Manulife Securities Investment Services Inc. when purchasing services or products from your Associate (remuneration to your Associate may also come from various sources depending on the services or products purchased). For example, your Associate may offer any one or more of the following through a separate business, which would not be the responsibility of Manulife Securities Investment Services Inc.:

* Deposit Instruments: GICs, Canada Savings Bonds;
* Fee for Service Financial Planning; * Estate Planning;
* Tax Planning or Income Tax Preparation;
* Insurance: Life, Accident, Sickness, Disability, General.

Please be sure that you have a clear understanding of which company you are dealing with for each of your services and products. Your Associate would be happy to provide any clarification you require.

The information contained herein is for Canadian residents only and does not constitute an offer to sell or a solicitation in any jurisdiction in which Manulife Securities or its Advisors are not appropriately licensed or registered or where any Product or Service is not eligible for sale. Details are available on request.