Longevity Pension Fund Announces First Distributions

Fraser Stark


25 Jun 2021


3 Min Read

Purpose Investments Inc. is pleased to announce that Longevity Pension Fund paid out its first income distributions today.

Fund Class
FundSERV Code
Distribution per Unit
Yield (initial NAVPU of $100)
Record Date
Payable Date
Distribution Frequency
Class D1
Class D2
Class F4

The first Canadian retirees are now seeing retirement expenses funded by their investments in Longevity Pension Fund. These investors can redeem should they need to, but if they stay invested, income payments from the Fund, like they received today, are expected to be distributed to them on a monthly basis for the rest of their lives.*** This enables them to live more confidently in retirement and to focus on pursuing their retirement ambitions.

At Purpose, we believe Longevity is a great investment for clients seeking a lifetime retirement income stream and for those who can accept some risk that the Fund’s income payments, although designed and likely to increase over time, could decline under certain conditions.***

Illustrative picture of Longevity Monthly Income

Seeing payments start to flow just three weeks after launching the fund on June 1 is incredibly rewarding, and in many ways marks the inauguration of the Longevity Pension Fund’s mission. For financial advisors, the ability to help their clients generate an income stream and help protect against longevity risk while still allowing for some flexibility, represents a powerful addition to their professional tool kit.

As Som Seif, Founder & CEO of Purpose Financial, wrote when we launched this fund, “We finally have a real 'income-for-life' solution available for all retirees.” Today, the ‘income’ part of that vision became a reality.

So here’s to income for life, for both these early investors and the many more to follow!

* The Fund has a unique mutual fund structure. Most mutual funds redeem at their associated Net Asset Value (NAV). In contrast, redemptions in the decumulation class of the Fund (whether voluntary or at death) will occur at the lesser of NAV or the initial investment amount less any distributions received. Fees may apply. Please review the prospectus or speak to your advisor for more details.

** Income in the form of Fund distributions is not guaranteed, and the frequency and amount of distributions may increase or decrease.

***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.

Commissions, trailing commissions, management fees and expenses all may be associated with the Longevity Pension Fund. This communication is not investment advice, nor is it tailored to the needs or circumstances of any specific investor. Talk to your investment advisor to determine if the Longevity Pension Fund is suitable for you and always read the prospectus before investing. There can be no assurance that the full amount of your investment in a fund will be returned to you. Investments in the Fund are not guaranteed, investment values in the Fund change frequently and past performance may not be repeated.

This article contains forward-looking statements (“FLS”). FLS include anything other than historical information, including expected returns. FLS depend on future events or conditions, are subject to risks and uncertainties, and are based on numerous assumptions. FLS are not guarantees of future performance - results could differ materially from those set forth in the FLS. The reader is cautioned to consider the FLS carefully, not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed. Purpose specifically disclaims any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

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