We are targeting the delivery of c.£125 million of integration synergies, net of costs, from cost efficiencies and capital management actions, representing c.50% of the consideration paid. Sun Life UK operates a predominantly outsourced business model with the majority of its policy administration already undertaken by our strategic outsourcing partner (TCS Diligenta), which supports a simplified operational integration programme. The acquisition is expected to deliver c.£470 million of incremental long-term cash generation, with approximately 30% of this cash generation to emerge in the first three years. This equates to an attractive price to shareholder Own Funds ratio of 83%1, in line with the Board’s disciplined approach to the deployment of shareholder capital. (“Sun Life”) for cash consideration of £248 million. The Board of Phoenix Group Holdings plc (“Phoenix Group” or the “Group”) is delighted to announce the acquisition of Sun Life UK, a closed book UK life insurance company, from Sun Life Financial Inc. Supports a 2.5% inorganic dividend increase payable from and including the 2022 Final Dividend.Targeting c.£125 million of cost and capital integration synergies, net of costs.Acquisition is expected to deliver c.£470 million of incremental long-term cash generation.Attractive transaction pricing with a price to shareholder Own Funds ratio of 83% 1.Phoenix Group to acquire SLF of Canada UK (“Sun Life UK”), a closed book UK life insurance company, for £248 million, funded from existing cash resources.You can convert your RRIF back to an RRSP at any time. Think of your RRIF as a last resort – only dip into it if you have to. payment from a disability insurance plan, or.payment from a critical illness insurance plan,.Instead of dipping into your retirement savings early, you may want to consider using alternate sources of income, such as:
If you start making RRIF withdrawals in your 30s or 40s, then you’re reducing the amount you’ll have available in later years. However, it’s important to note that the purpose of a RRIF is for you to have income during your retired years. illness of a child or a spouse, car accident, etc.). For example, it may be beneficial to convert your RRSP to a RRIF early if you need income to cover the cost of: You can do it at 30 if it makes sense with your situation. You don’t have to wait until you’re 71 to convert your RRSP into a RRIF. Can you convert your RRSP to a RRIF early?
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