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Nearing Retirement

MetLife's retirement solutions can help turn your retirement savings into a stream of income that will last a lifetime.

Transition To RetirementIf you're making the transition into retirement, you need to consider these questions:

  • Where will your retirement income come from?
  • When should you start receiving Social Security benefits?
  • How can you plan ahead for rising healthcare costs?

Let MetLife show you how to help maximize and protect your income in retirement.


Let's assume Kathy contributes to her IRAs and company savings plan. However, she is aware that the cost of retirement is often higher than anticipated. Kathy is concerned that rapid increases in healthcare costs could consume a majority of her savings.

Here's a possible solution - Kathy can set aside a portion of her retirement savings now to generate a guaranteed income stream later with a deferred fixed annuity. For example, if Kathy took $30,000 and contributed it to a deferred fixed annuity, she can defer receiving income payments until she is ready. Kathy's income will last even if she lives to 85, 90, 100-or older.1



With the rising costs of living, and the ups and downs of the stock market, you may want a steady stream of retirement income. A deferred annuity is a type of accumulation vehicle that allows you to save for later in life. With a deferred annuity, you have the option to convert your annuity account balance to an income stream which can last the rest of your life. Deferred annuities allow your money to grow tax-deferred.2

Deferred annuities can be fixed or variable. A deferred fixed annuity gives you a steady, fixed return on your money, while a deferred variable annuity gives you investment flexibility and potential growth related to the market performance of the selected funding options.

A fixed annuity will provide a fixed stream of payments. A variable annuity will typically provide either a variable income payment based on the market performance of the underlying funding options, a fixed stream of payments through optional riders available at an additional cost, or a combination of the two.

You may have more questions before you decide which one might be right for you. Learn more.



If you're still working, now may be the ideal time to maximize your contributions to your 401(k) or 403(b) plan, especially if your employer offers a company match. In addition to the standard contribution limits, a catch-up allows plan participants who reach age 50 before the end of the calendar year to make an additional contribution on a pre-tax basis. The maximum catch-up contribution for a 401(k) or 403(b) plan is $5,500 for 2013.



Did you know that the age you choose to retire impacts the amount of money you will receive each month from Social Security? If you start your Social Security benefits at age 62, the benefit amount you receive is reduced from the monthly benefit you would receive at your full retirement age and will continue at the lower amount even after you reach full retirement age.

Full retirement age has been 65 for many years. However, beginning with people born in 1938 or later, that age will gradually increase until it reaches 67 for people born after 1959. No matter what your earnings, the maximum benefit you can receive at retirement is determined by the Social Security law and changes from year to year.

If you decide to retire after full retirement age, you can increase your benefit in two ways:

  • Each added year of work adds another year of earnings to your Social Security record. Higher lifetime earnings may result in higher benefits.
  • If you delay retirement, your Primary Insurance Amount (PIA) will increase by delayed retirement credits from your normal retirement age until you reach age 70.

If you decide to delay retirement, be sure you sign up for Medicare at age 65. In some circumstances, medical insurance costs more if you delay applying for it.



Most people underestimate retirement healthcare costs. The reality is that unexpected healthcare and nursing home expenses can be significant-and could quickly deplete your assets.

It's hard to imagine right now, but one day you may require assistance with daily personal care. The cost of long-term care is substantial, and medical insurance and Medicare do not cover most long-term care services.

To estimate your needs, create a healthcare budget starting with your current out-of-pocket healthcare expenses, such as:

  • Co-pays
  • Deductibles
  • Prescription medication

Then compare the difference based on the type of coverage you will have if you plan on retiring before you're eligible for Medicare (it's recommended that you apply for Medicare three months before your 65th birthday). Also, examine your family's health history as it may be an indicator of future medical needs and possible life expectancy.

MetLife can help you identify any shortfalls in coverage that can lead to potentially significant out-of-pocket expenses, so you will be better prepared for and protected from the unexpected.



MetLife's life insurance products offer guarantees3 that can help you protect your savings and maximize your future income.

Having a life insurance policy in place can help provide guaranteed3 income for your loved ones and lessen their financial burden when you're no longer here. The benefits can help with everything from mortgage payments to college tuition.


Saving for Retirement
In Retirement

1 This example is hypothetical and is for illustrative purposes only. It does not represent any particular MetLife product or a guarantee of any kind.

2 If you are buying an annuity to fund a qualified retirement plan or IRA, you should do so for the annuity’s features and benefits other than tax deferral. That’s because tax deferral is not an additional benefit of the annuity. References throughout this material to tax advantages, such as tax deferral and tax-free transfers, are subject to this consideration.

3 Guarantees apply to certain insurance and annuity products, including optional benefits, (not securities, variable or investment advisory products) and are subject to product terms, exclusions and limitations and the insurer's claims-paying ability and financial strength.

Most insurance policies and annuity contracts contain exclusions, limitations, reduction of benefits, surrender charges and terms for keeping them in force. Your representative can provide you with costs and complete details.

Variable annuities are offered by prospectus only, which is available from your registered representative. You should carefully consider the product's features, risks, charges and expenses, and the investment objectives, risks and policies of the underlying portfolios, as well other information about the underlying funding choices. This and other information is available in the prospectus, which you should read carefully before investing. Product availability and features may vary by state.

The amounts allocated to the variable investment options of your account balance are subject to market fluctuations so that, when withdrawn or annuitized it may be worth more or less than its original value.

Withdrawals of taxable amounts are subject to ordinary income tax and if made before age 59½, may be subject to a 10% Federal income tax penalty. Some broker/dealers and financial professionals may refer to the 10% Federal income tax penalty as an “additional tax” or “additional income tax,” or use the terms interchangeably when discussing withdrawals taken prior to age 59½. Distributions of taxable amounts from a non-qualified annuity may also be subject to the 3.8% Unearned Income Medicare Contribution Tax on Net Investment Income if your modified adjusted gross income exceeds the applicable threshold amount. Withdrawals will reduce the living and death benefits and account value. Withdrawals may be subject to withdrawal charges.

MetLife fixed income annuities, like all annuities, are insurance products and are not insured by the FDIC, the NCUSIF or any other government agency, nor are they guaranteed by, or the obligation of, the financial institution that sells them. All product guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.

Metropolitan Life Insurance Company, 200 Park Avenue, New York, NY 10166. Securities products offered by MetLife Securities, Inc. and New England Securities Corporation (members FINRA/SIPC), both at 1095 Avenue of the Americas, New York, NY 10036. Some health insurance products offered by unaffiliated insurers through the Enterprise General Insurance Agency Inc.(EGA), 300 Davidson Avenue Somerset, NJ 08873-4175. All are MetLife companies.

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