Assessing and Planning Your Financial Situation

Your financial situation plays a determining role in how you will be planning your transition to civilian life. We encourage you to plan ahead with your SISIP Planning and Investment Services offered by CAF, financial advisor or bank. It could influence where you wish to live, and the lifestyle you can afford, among other decisions. Assessing the state of your finances after release requires you and your spouse/partner to conduct an in-depth evaluation of all benefits, savings, sources of revenues, and expenses. In initiating such an exercise, answering the following questions is an important part of the financial assessment and planning process:

  • Do I qualify for a pension under Canadian Forces Superannuation Act (CFSA)?
  • If yes, how much would I receive on a monthly basis?
  • Do I qualify for income replacement under CAF-LTD?
  • If yes, how much would be my monthly allotment?
  • Am I entitled to a VAC benefit?
  • If yes, how much would be my monthly allotment?
  • How much can I expect in the way of benefits on release?
  • How can I invest my return of contribution (if applicable)?
  • What is the monthly income of my partner/spouse (if applicable)?
  • How much savings do I/we have?
  • How much income do I/we have to generate to have the quality of life we wish to enjoy after release?
  • Is my/our will updated?
  • Would I/one of us need to secure employment after release to enjoy a comfortable lifestyle?

Having good money management can help reduce stress and uncertainty. This is especially true during the transition period.

The forms below have been created to help families estimate their overall income and expenses after release:


Financial Planning: Contact Form


Point of Contact & Phone #

Web Site

Actions taken

SISIP Financial Planner


Life Insurance


Home Insurance


Car Insurance


VAC Pension


VAC Caregiver




Release Section


Financial institutions


Government Disability Pension Plan



Monthly Household Revenue- Expense Form

Sources of Revenue (Where applicable)

CAF Pension


VAC Pension


Registered Retirement Savings Plan (RRSP) Return


Income: Yours


Income: Spouse/Partner


Other Income


Total Family Income






Municipal Taxes




Regular Monthly Bills (electricity, telephone, internet, etc.)


Car Payments


Credit Cards


Car, Home, and Life Insurance

(combined, on a monthly basis)


Capital Expenditures (home renovations, landscaping, etc.)


Children’s Education and Education-Related Expenses


Continuing Education


Leisure and Travel


Routine Expenses (clothing, tools, home maintenance, etc.)


Other Expenses and Loans


Total Expenses


Monthly Balance


Total of Family Savings To Date


Anticipated future contributions to savings (monthly savings, Registered Retirement Savings Plan(RRSP))


Canadian Retirement Income Calculator

The Canadian Retirement Income Calculator will provide you with retirement income information, including the Old Age Security (OAS) pension and Canada Pension Plan (CPP) retirement benefits.  It will help you better understand how each pillar of the retirement income system will contribute to your future financial security.  The calculator's results are estimates for information purposes only, and should not be considered financial planning advice; it does not collect personal information or identifiers.  The Canadian Retirement Income Calculator can be find in the following link:

SISIP Financial – Planning and Investment Services

SISIP Financial advisors are qualified to provide general financial advice and investment advice, suited to your specific requirements, at every stage of your career and beyond.

Seeking the assistance of a professional advisor early in your retirement planning is recommended.

SISIP Financial advisors offer unbiased financial and investment advice, and assist you to prepare financially for the change in circumstances, by reviewing your personal situation. Providing guidance and solutions, they can help you avoid potentially costly mistakes regarding release benefits, tax planning, budgeting, and other considerations.

They can also provide investment options that will enable you to fulfill your financial goals.

Locate your nearest SISIP Financial advisor by calling SISIP Financial customer service at 1-800-267-6681 or online at

SISIP Financial – Life Insurance Services

Whether or not you have optional term life insurance coverage with SISIP Financial while you are serving, it is recommended that you contact a SISIP Financial Advisor who can explain the coverage available to you upon release. If you have coverage in effect, review your post release insurance needs and transfer options.

If you have coverage in effect at release, a completed application form must be received at a SISIP Financial or Manulife/SISIP Services office no later than 60 days after your final date of release (DOR) in order to transfer it. Your current coverage will expire after sixty 60 days following your DOR .

You are encouraged to contact a SISIP Financial Advisor at least three months prior to your DOR to review your insurance needs post release, discuss any other coverage(s) available to released members,  and to complete the applicable transfer request.

SISIP Financial office locations, Manulife contact information and application forms can be obtained by calling SISIP Financial customer service at 1-800-267-6681, Manulife/SISIP Services at 1-800-565-0710 or on our website at

Finding a Home

Upon release from the CAF, many families will be considering their next home. For a number of families, securing housing will not be an issue, as they already live in civilian accommodation and they do not intend to move, having already set down roots in their community. However, other families may decide to change residences, either because they have to vacate the Personal Married Quarters (PMQ) or they wish to move closer to home or to specific services. Whether a family decides to buy or rent, housing constitutes the most significant expense in the household. The financial assessment and planning process will be instrumental in helping families determine their options in moving to a new place of residence.

In selecting a new place of residence after release, families should be considering the following questions:

  • In which area would I/we like to spend our next years?
  • Would I/we be comfortable living in that neighborhood?
  • Do I/we know anybody (acquaintances, friends, family) in that community?
  • Would services that I and my family needs be available, and are they available in our preferred language?
  • Do I/we have the support network that would provide us with assistance in the event of an emergency?
  • Have I discussed these considerations with my spouse/partner?
  • To rent or to buy, which would be most advantageous for me/us?
  • Would the new place of residence meet my/our medical care needs?
  • Moving to a city or to the country: what are the pros and cons?
  • Would my spouse/partner and I be able to find work?
  • Have I/we checked the credentials of our real estate agent?
  • Am I/Are we buying, only to sell only after few years?
  • Have I/we discussed what features we want in our next home?
  • Based on our financial situation, could I/we afford to live comfortably in this new home?
  • Would this home meet our children’s needs?
  • Are there good reasons to want to live in this community?

The following form has been designed to help families organize their in their search for a new home.


Securing Housing & Household - Contact Form



Point of Contact & Phone #

Web Site

Actions taken

Brookfield Global Relocation Services (BGRS)


House hunting agencies


Base Housing Services


Real Estate Agent


Mortgage Agent


Insurance company




City Hall

Tax Department



Community Integration

Getting integrated into the community and being able to fully participate in community life through a supportive network, life-enhancing activities, active learning, and engagement, allows the family to grow together as an entity. Part of the process is to ensure all the services your family needs are available in their new community. To start with, it is important that your family take the time to familiarize themselves with what the community has to offer.

The following form has been produced to help families to familiarize themselves with community resources:


Community Integration - Contact Form


Point of Contact & Phone #

Web Site

Actions taken



CAF Transition Centre


Local VAC services


Community Service Map


Family Physician


Specialist Physicians






Health Care Specialists


Financial Institutions


Day Care Centres


Emergency Day Care


City Hall


City recreational services


Chamber of Commerce


Grocery Stores


School Board(s)












Recreational clubs





Report a problem or mistake on this page
Please select all that apply:

Thank you for your help!

You will not receive a reply. For enquiries, contact us.

Date modified: