When it’s time to create your retirement income strategy, having the right combination of investments can provide you with a guaranteed stream of income to cover your monthly budget and a flexible income stream to cover any surprises.
Guaranteed and flexible income
Your retirement plan could be key to retiring well and making sure your money lasts. With the right strategy in place, you can create an income stream that is steady and dependable, but flexible enough to allow for adjustments as needed. By pairing the Voya Global Target Payment (GTP) Fund with a Voya immediate annuity, you could achieve this combination of guarantee and flexibility.
- An immediate annuity provides a guaranteed income stream that shields your investment from market volatility and pays you periodic income payments in exchange for a premium payment. Guarantees are based on the claims-paying ability of Voya Retirement Insurance and Annuity Company.
- The Voya GTP Fund is designed to deliver regular payments today while seeking to preserve capital, provide growth potential for tomorrow, and maintain a liquid asset in case of emergency. Unlike the Voya SPIA, Voya GTP Fund payments are not guaranteed but do provide access to your account value if needed.
Customize your retirement solution
Investing in a combination of these products may better meet your individual goals. For example, you could use your immediate annuity to help cover basic necessities (rent, groceries, healthcare, etc.). Your Voya GTP Fund distributions could go toward your extra expenses and provide access to your account value in case of emergencies.
A hypothetical solution is illustrated below to show how your retirement funding might look.
Ask questions. Lots of them.
There’s no substitute for good advice. Now that you’re armed with a little knowledge, talk to a financial advisor to help you create a customized investment strategy that fits your financial goals and needs. They’ll be able to point you in the right direction.
Withdrawals may be subject to Federal/State income tax and, if taken prior to age 59½, an additional 10% Federal penalty tax. All distributions from qualified annuities may be taxable. State premium taxes may reduce the final value of your annuity. IRAs and other qualified plans already provide tax-deferral like that provided by an annuity.
Neither the company nor its agents or representatives can provide tax, legal or accounting advice. Please consult your attorney or tax advisor about your specific circumstances.
Important information about Voya Income Provider Annuity:
Additional features and benefits such as contract guarantees, death benefits and the ability to receive a lifetime income are contained within the annuity for a cost. Please be sure the features and costs of the annuity are right for you when considering the purchase of the annuity. Immediate annuities have no cash value, cannot be surrendered, and provide only the benefit described in the contract.
Voya Income Provider Annuity, contract form series A051FSP96, is issued by Voya Retirement Insurance and Annuity Company. This is a summary only. Read the contract for complete details. The product and its features may not be available in all states and are subject to change. All guarantees are based upon the financial strength and claims-paying ability of Voya Retirement Insurance and Annuity Company, which is solely responsible for all obligations under its contracts.
Important Information about GTP: An investor should consider the investment objectives, risks, charges and expenses of the Fund(s) carefully before investing. For a free copy of the Fund’s prospectus, or summary prospectus, which contains this and other information, visit us at www.voyainvestments.com or call (800) 992-0180. Please read the prospectus carefully before investing.
All investing involves the risk of fluctuating prices and the uncertainties of rates of return and yield inherent to investing.
The Fund is expected to make monthly payments under its Managed Payment Policy regardless of the Fund’s investment performance. Because these payments will be made from Fund assets, the Fund’s monthly payments may reduce the amount of assets available for investment by the Fund. It is possible for the Fund to suffer substantial investment losses and simultaneously experience additional asset reductions as a result of its payments to shareholders under the Managed Payment Policy. The Fund may, under its Managed Payment Policy, return capital to shareholders which will decrease their costs basis in the Fund and will affect the amount of any capital gain or loss that shareholders realize when selling or exchanging their Fund shares.
Securities offered through Voya Financial Advisors, Inc. (member SiPC)
Not FDIC/NCUA/NCUSIF Insured | Not A Deposit Of A Bank | Not Bank Guaranteed | May Lose Value | Not Insured By Any Federal Government Agency