How does this mutual fund work?

Banner

Income for life​

Receive income* that lasts your entire life through monthly distributions so that you can retire with confidence and peace of mind.

Redeemable structure

Redeem your unpaid capital if you need it back or have it returned to your estate if you pass away.**

Attractive distribution rates

Secure a high starting income rate vs. other lifetime income products that’s designed to increase over time.

Let’s crunch the numbers with our Retirement Income Calculator.

Your starting annual income*, which represents a monthly income of $0*
Calculate

What's so unique about this fund?

It is the world’s first mutual fund to incorporate longevity risk pooling, like a pension fund, to provide income for life through a flexible and redeemable mutual fund structure available to Canadian retirees.

Tell me more

Retirement made easy

Are you newly retired and wondering about safe withdrawal rates? Or still working and curious about compound interest? Let’s ditch the spreadsheets. A PhD in finance shouldn’t be a prerequisite for a happy retirement.

Explore Here

Feel secure with your plans

Try our retirement calculator to get an estimate of your income in retirement.

Dive Deeper

Frequently Asked Questions

  • What are the expected income payments at retirement?
    The initial income rate for 65-year-olds is 6.15% and is designed to increase over time*, but this may be adjusted up or down. Visit our Longevity Pension Fund Estimator for a more detailed view of what your income can look like in retirement.
  • I’m not retired yet. Can I still invest?
    Absolutely. The fund has two classes: an Accumulation Class (for individuals who are saving for retirement or not yet retired) and a Decumulation Class (for individuals 65 and over). By investing in the Accumulation Class, your assets can continue to grow, and the month after you turn 65 your investment will be automatically switched into the Decumulation Class, and will start receiving income based on your investment in the fund. The best part? There is no taxable event upon this switch.
  • Can I change my mind after purchasing this product?
    Of course! Unlike many traditional annuities or other lifetime income products, the Longevity Pension Fund is not meant to feel like a binding contract. You can change your mind and access the lesser of your unpaid capital** (i.e., your invested capital less the distributions you’ve received) or current NAV. Your beneficiaries are entitled to the same amount if you pass away. Once your cumulative distributions surpass your invested capital, there will no longer be any redeemable value left. Please speak to your advisor or see the prospectus for further details.
  • How do redemptions work?
    An investor can redeem at any time. There’s no difference in treatment whether it’s a voluntary redemption or if the investor has passed away. When an investor redeems, they will receive the lesser of their unpaid capital (initial investment less distributions received to date), or current NAV.

Have More Questions?

Read Here

One of the best things about retirement? Less emails

Don't worry. We won't mess with that.
Sign up for news about the fund, exclusive content, and maybe a few surprises.

Your trust is our top concern

Since day one, at Purpose Investments, our values have been our North Star. We believe that ambition never retires. Our mission? To give people the stability and confidence to make the most of their post-work years. With Longevity, we aim to solve the issue of income instability for retirees so we can live in a world where more people see retirement as an opportunity, not a challenge.

Strong Partners: Purpose is backed by OMERS Pension Plan, one of Canada’s largest defined benefit pension plans, and Allianz, one of the world’s largest insurance companies. Moreover, Longevity has assembled a group of reputable service providers including Ernst & Young and CIBC Mellon for auditing and financial custody services, respectively.

Support from Those Who Matter: The Longevity Pension Fund is recommended by the Canadian Association of Retired Persons (C.A.R.P.), Canada’s largest advocacy association for older Canadians promoting equitable access to health care, financial security, and freedom from ageism.

Credibility through Experience: Longevity is led by Som Seif, whose personal mission has been to improve financial services for all Canadians, which he’s consistently proven throughout his career.

Strength of Product Design: Longevity was designed using the same technical principles that are used in pension plans and annuities offered by insurance companies. We use sophisticated actuarial models based on longevity risk pooling. We worked with one of the top actuarial and pension consultants, LifeWorks (formerly known as Morneau Shepell), to stress test and perform due diligence on our product structure to ensure we have the best product for our investors. As an example, a really innovative idea we incorporated into the Longevity Pension Fund is rather than put the profits of investors passing away in the hands of the financial institution, the profits stay in the fund for the benefit of all continuing investors.

Advisory Committee: Longevity’s decisions are guided by an external Advisory Committee, consisting of leading pension and retirement experts in Canada (and the world!).

OMERS LogoAllianz LogoCARP Logo (Small)

® Registered trademark of Longevity Funds International Inc.; used under license. Patent pending. *Although distributions are designed to increase over time, they may go up or down. The level will be assessed regularly, and impacted by market conditions and unitholder redemptions (both voluntary and due to death). For individuals 64 years and younger, the starting annual income begins in the month after you turn 65 years old. The calculator assumes an annualized net return of 3.75%. The income payments shown are gross of taxes. Please review the prospectus or speak to your advisor for more details.

**You can always access the lesser of unpaid capital (initial value of your investment less any income payments made) or your net asset value. Fees may apply. Please review the prospectus or speak to your advisor for more details. Certain statements in this document are forward-looking.

Forward-looking statements (“FLS”) are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” intend,” “plan,” “believe,” “estimate” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believes to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.